THURSDAY, March 28, 2024
nationthailand

THAI UNION SALES GROWTH TARGET INTACT DEPITE Q1 SETBACKS

THAI UNION SALES GROWTH TARGET INTACT DEPITE Q1 SETBACKS

Thai Union Group has kept the year’s sales growth target of five per cent despite first-quarter drop in total sale to Bt29.70 billion with a net profit Bt868.98 million, representing a 5.5 per cent and 39.38 per cent decline from the same period last year, the company’s chief financial officer Joerg Ayrle said yesterday.

At the end of year 2017, the company reported total sale of Bt136.55 billion.
He added that two factors has impacted its total revenue in the first quarter, including product price adjustment to reflect falling lower tuna raw material prices as well as the baht’s appreciation against the US dollar.
The company has maintained its net profit margin of five per cent from 4.29 per cent last year, gross profit margin 15 per cent from 13.29 per cent last year. The company will reduce its operational cost by up to 10 per cent this year, he said.
Meanwhile, it has set aside an investment budget of up to Bt5 billion for this year, excluding the expense in merger and acquisition activities. 

nationthailand