Thai Union experiences robust growth in the second quarter, attributed to the effective diversification of its business strategy.

A resurgence in activities reminiscent of the pre-pandemic era, fueled by an uptick in COVID vaccinations and other initiatives in the US and European territories, coupled with strategic diversification of its business operations, has been instrumental in bolstering the robust growth of Thai Union in the second quarter of the current year. In this period, the enterprise recorded a sales figure of THB 35.9 billion, marking an 8.6 percent increase from the corresponding timeframe in the preceding year. Thai Union announced an unprecedented net profit of THB 2.3 billion, which represents a 36.5 percent surge over the same quarter of the previous year, alongside a gross profit margin standing at 19 percent. The quarter witnessed a revival of pre-pandemic behaviors, including family reunions, celebratory occasions, and dining experiences, especially within the US and to some extent in Europe. This shift significantly contributed to the recovery of Thai Union’s food service and retail sectors in the US, propelling the company’s frozen and chilled seafood segment to reach THB 14.9 billion in the second quarter of this year. This figure is a 28.7 percent increase from Q2 of 2020, a period when the pandemic severely impacted the restaurant industry. Additionally, the company saw a notable performance improvement in Red Lobster, the world’s largest seafood restaurant chain, during the quarter. Thai Union maintained its focus on high-margin ventures, with the positive outcomes supported by a sustained high demand for PetCare, value-added, including the packaging business, and other products as individuals continued to welcome pets into their homes and dedicated more time to their care, resulting in a sales growth of 12.5 percent to THB 5.7 billion. The shift back to pre-COVID activities in certain markets during the second quarter, following the extraordinary demand witnessed at the onset of COVID-19 last year, led to a 6.8 percent decrease in sales of the company’s ambient seafood business, totaling THB 15.3 million in 2Q2021. Reflecting on the first half of 2021, sales escalated by 4.4 percent to THB 67 billion, with net profit soaring by 51.7 percent to THB 4.1 billion, driven by the continued global confidence in Thai Union products. The company also announced an interim dividend payment of THB 0.45 per share. Thiraphong Chansiri, CEO of Thai Union Group, highlighted the significance of the company’s diversified business model across geographical markets, product categories, and revenue sources as a crucial factor for the quarter’s strong performance. He emphasized the company’s commitment to profitability, financial discipline, and the exploration of new, value-enhancing ventures. Chansiri expressed pride in the enduring consumer trust in Thai Union’s products for their quality, value, and nutritional benefits, which supports consumers' commitment to healthy living, whether at home or as they transition back to a more normalized lifestyle. In May, the company expanded its portfolio by acquiring the remaining 49 percent of shares in Rügen Fisch AG, a leading shelf-stable seafood company in northeastern Germany, boasting revenues exceeding €140 million. Throughout the first half of 2021, Thai Union pursued investments in innovative businesses and startups, including ViAqua, a biotechnology firm focusing on aquaculture disease prevention, BlueNalu, a developer of cell-cultivated seafood, and Aleph Farms, which specializes in cell-cultivated meat production. Chansiri also addressed the company’s commitment to offering a diverse range of products that support healthy living and the sustainability of the oceans, noting the increasing trend among young consumers worldwide to incorporate more plant-based foods into their diets alongside fish and meat. He underscored the importance of alternative proteins in reducing carbon emissions and their significance in global diets, aligning with Thai Union’s business objectives. Amid the ongoing pandemic and particularly during Thailand’s third wave, Thai Union continued its support for communities, both human and animal, through its ‘Thai Union Cares’ program. The initiative has led to the donation of over 200,000 servings of human food in Thailand since the third wave began and more than 400,000 servings since last year. Globally, the company has donated over 3.3 million servings of food since the pandemic's start. Additionally, more than 75,000 cans of Bellotta cat food and Marvo dog food have been donated this year to animal shelters, community organizations, and volunteers across Thailand to aid in feeding animals in need. Thai Union has also collaborated with government agencies, hospitals, and humanitarian relief organizations to provide essential supplies, including over 20 high-flow heated oxygen respirators and 10,000 COVID-19 Antigen Rapid Tests, with a total value of THB 7.2 million, to a hospital in Samut Sakhon, where the company has its