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Stronger baht hits Thai Union’s profits despite high consumption of seafood

May 05. 2020
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The net profit for the first quarter of leading seafood exporter, Thai Union Group, stands at Bt1.016 billion, down 20.19 percent compared to the same period last year due to losses caused by currency exchange and a drop in revenue from red lobster. 

However, sales in the first quarter was higher at Bt31.103 billion, up 5.9 percent from the same period last year. 

“The pandemic has brought many challenges, especially when it comes to exporting frozen seafood to the United States and Asian countries,” a company staff said. “However, the sale of processed seafood has risen because more people are eating at home in compliance with lockdown measures.”

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