Seafood giant Thai Union has raised its sales and profit forecasts for this year as it continues to show signs of recovery from a tricky 2025.
Thai Union saw sales drop 4% last year as it battled what president and CEO Thiraphong Chansiri called “exceptional external headwinds” from tariffs to currency pressures.
But with sales up 1.4% on last year – the fourth consecutive quarter of organic growth – the company is now expecting full-year sales to grow between 4% and 6%, up from an earlier forecast of a 3% to 4% rise.
The John West owner said profit margins were now at an all-time high of 21.4%, exceeding the 2026 target range and in line with the company’s 2030 target of 21% to 23%.
Chansiri said these latest results show the strategy is yielding strong results for shareholders.
“Reaching a record gross profit margin already in line with our 2030 target, growing volumes for a tenth consecutive quarter, and raising our dividend payout by more than 14% shows the strength and consistency of the business we have built,” he added.
Thai Union’s improvements were led by higher volumes in its ambient and petcare divisions, while ambient and frozen delivered margin gains. Sales from its frozen business were “broadly stable”.
It took the company’s total sales in the first half of the year to THB 65.9bn (£1.5bn), while operating profit grew 17.9% in the period to THB 3.3bn (£73.5m).
No comments yet