Thai Foods Group Plc sees vibrant market

TFG reported net profit of 614.4 million baht in Q1, 2020 up from 204.1 million baht, y-o-y.

Covid-19 has had no effect on domestic sales and exports. The profit was attributed to strong demand for pork and poultry, favorable prices and improved gross margins resulting from lower prices for soft grains.

It foresees that exports of raw chicken meat to China will increase to 12,000 tonnes, up from 5,000 tonnes. 

Turnover in Q1 was 8.1 billion baht up, 19.4%. Turnover from broilers in Q1, 2020 was 4.4 billion baht, up 13.8% y-o-y. Sales volume was 95,623 tonnes, up 4.3% y-o-y. Average price of poultry meat was 39.08 baht/kg, up 6.1%  y-o-y. 

TFG’s hog business generated 2.1 billion baht, up 25.9% y-o-y. Domestic market sales hit 26,851.8 tonnes, up 28.9%  y-o-y. Average pork price was 72.4 baht/kg, down 1.9% y-o-y.  

Feed generated 1.2 billion baht revenue in Q1, up 11.9% y-o-y due to increasing sales prices, which were up 3% y-o-y and volume up 8% y-o-y.