Bangkok, Thai Union rakes in 1.2 billion baht in net profit, reveals 3 core businesses starting to recover: canned food, pet food, and first-half dividend of 0.31 baht per shareMr. Thiraphong Chansiri, Chief Executive Officer of Thai Union Group, said that net profit in the second quarter of 2024 was 1,219 million baht, an increase of 14.2 percent compared to the same quarter last year, driven by the continued recovery of the canned food, pet food, value-added products and others businesses, while the gross profit margin increased by 18.5 percent, the second highest growth in 3 years, with sales of 35,283 million baht, an increase of 3.6 percent compared to the same period last year, especially the growth of the pet food group, which had sales of 40.6 percent, as well as the gross profit margin expanding by 31.3 percent.Thai Union has been adapting to the economic slowdown since 2023, resulting in a recovery in the canned food, pet food, and value-added and other businesses, which have driven business gro wth from the first quarter very well, resulting in the company's strong performance. In addition, Thai Union has received positive factors from i-Tail Corporation Public Company Limited (ITC) being selected as one of the 50 companies in the SET 50 Index of the Stock Exchange of Thailand (SET) for the first time since its listing in December 2022, and is also the only new company from the food and beverage industry group in the index.At the same time, the company continues to research and develop new innovations because they are key to the long-term growth of the business. In the last quarter, Thai Union's John West brand announced the launch of ECOTWIST®, a revolutionary packaging design that is easy to use, environmentally sustainable, and minimizes packaging waste. ECOTWIST® is the next major innovation in packaging for the canned tuna product group in the United Kingdom in the past 20 years.Source : Thai News Agency