echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Food News > Food Articles > In 2020, Thai Union's net profit will increase by 64%, with outstanding sales of canned products

    In 2020, Thai Union's net profit will increase by 64%, with outstanding sales of canned products

    • Last Update: 2021-03-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com
    In 2020, the COVID-19 foodmate.
    net/tag_4403.
    html" class="zdbq" title="Epidemic-related food information" target="_blank">pandemic hit the foodmate.
    net/tag_4622.
    html" class="zdbq" title="Seafood related food information" target="_blank">seafood industry severely.
    Most of the companies’ profits have shrunk sharply and even suffered serious losses.
    However, a few companies have seized historical opportunities to continuously strengthen their retail market business and successfully achieved a counterattack in foodmate.
    net/tag_2051.
    html" class="zdbq" title="Sales-related food information" target="_blank">sales .
    This is Thai unio.
    one of them.
     
    According to the annual report of the Thai Wansheng Group, the annual sales revenue for 2020 is about 132.
    4 billion baht, an increase of 5% over the previous year, and the foodmate.
    net/tag_962.
    html" class="zdbq" title="Net profit related food information" target="_blank">net profit reached 6.
    2 billion baht, an increase of 64%.
    According to the company, the net profit has increased significantly.
    On the one hand, it benefited from the repayment of antitrust fees in 2019, and on the other hand, it was driven by the growth in demand for foodmate.
    net/tag_610.
    html" class="zdbq" title="Canned Food Information" target="_blank">canned products (even if the antitrust fees were not returned, the company’s net profit increased by as much as 20%) .
     
      According to the company, demand for canned products business remains strong (sales growth of 8.
    8%), domestic and export market demand for pet food and value-added businesses has increased (8%), while consumers maintain social distancing, the frequency of home cooking has increased.
    The company's operations have also benefited from the proactive promotion activities.
     
      At the end of 2020, the outbreak in Thailand did not have a serious impact on Thai Wansheng's production and operations.
    The company stated that all business departments have adopted strict sanitation measures.
     
      In the fourth quarter of last year, the Thai Wansheng Group showed excellent performance.
    The revenue for the whole quarter reached 33.
    5 billion baht, a year-on-year increase of 1.
    9%, and the net profit was about 1.
    9 billion baht, a year-on-year increase of 26%.
    The sales volume of canned products of tuna, sardines, mackerel and other fish increased significantly.
    The price of tuna increased by 40% year-on-year, and the sales volume increased by 6.
    9% year-on-year.
    Sales in Europe and the United States remained strong.
     
      However, the sales of frozen and chilled products under Tai Wansheng still face great challenges.
    The sales of this sector in the fourth quarter fell by 6.
    5% year-on-year, and the annual sales fell by 5.
    4%.
     
      According to the company, Red Lobster, the American seafood restaurant chain, is still at a loss, with a loss of about 189 million baht in the fourth quarter and a loss of 527 million baht for the whole year.
    foodmate.
    net/tag_4403.
    html" class="zdbq" title="Epidemic-related food information" target="_blank">Epidemic foodmate.
    net/tag_4622.
    html" class="zdbq" title="Seafood related food information" target="_blank">seafood foodmate.
    net/tag_2051.
    html" class="zdbq" title="Sales-related food information" target="_blank">sales
     
      According to the annual report of the Thai Wansheng Group, the annual sales revenue for 2020 is about 132.
    4 billion baht, an increase of 5% over the previous year, and the foodmate.
    net/tag_962.
    html" class="zdbq" title="Net profit related food information" target="_blank">net profit reached 6.
    2 billion baht, an increase of 64%.
    According to the company, the net profit has increased significantly.
    On the one hand, it benefited from the repayment of antitrust fees in 2019, and on the other hand, it was driven by the growth in demand for foodmate.
    net/tag_610.
    html" class="zdbq" title="Canned Food Information" target="_blank">canned products (even if the antitrust fees were not returned, the company’s net profit increased by as much as 20%) .
    foodmate.
    net/tag_962.
    html" class="zdbq" title="Net profit related food information" target="_blank">foodmate.
    net/tag_610.
    html" class="zdbq" title="" target="_blank">Canned foodmate.
    net/tag_962.
    html" class="zdbq" title="" target="_blank">Net Profitfoodmate.
    net/tag_610.
    html" class="zdbq" title="Canned Food Information" target="_blank">
     
      According to the company, demand for canned products business remains strong (sales growth of 8.
    8%), domestic and export market demand for pet food and value-added businesses has increased (8%), while consumers maintain social distancing, the frequency of home cooking has increased.
    The company's operations have also benefited from the proactive promotion activities.
     
      At the end of 2020, the outbreak in Thailand did not have a serious impact on Thai Wansheng's production and operations.
    The company stated that all business departments have adopted strict sanitation measures.
     
      In the fourth quarter of last year, the Thai Wansheng Group showed excellent performance.
    The revenue for the whole quarter reached 33.
    5 billion baht, a year-on-year increase of 1.
    9%, and the net profit was about 1.
    9 billion baht, a year-on-year increase of 26%.
    The sales volume of canned products of tuna, sardines, mackerel and other fish increased significantly.
    The price of tuna increased by 40% year-on-year, and the sales volume increased by 6.
    9% year-on-year.
    Sales in Europe and the United States remained strong.
     
      However, the sales of frozen and chilled products under Tai Wansheng still face great challenges.
    The sales of this sector in the fourth quarter fell by 6.
    5% year-on-year, and the annual sales fell by 5.
    4%.
     
      According to the company, Red Lobster, the American seafood restaurant chain, is still at a loss, with a loss of about 189 million baht in the fourth quarter and a loss of 527 million baht for the whole year.
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.