Thai Union Feedmill Public Company Limited (SET: TFM) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
151.03 | 52.49 |
| Earning Per Share
(Baht) |
0.3000 | 0.1000 |
| % Change | 187.75 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
384.42 | 72.53 |
| Earning Per Share (Baht) | 0.7700 | 0.1500 |
| % Change | 429.99 | |
TFM reported a net profit in 3Q24 of THB 151.0 million, a significant increase of 187.7% from the same period last year. This significant growth was fueled by enhanced profitability, with an improved gross profit margin at 19.2% due to strategic sales and production cost optimization.
The company reported sales at THB 1,389.8 million in 3Q24, marking an increase of 6.4% from the same period of last year, driven by a 29.4% increase in shrimp feed sales, both domestically in Thailand and Indonesia, as well as exports to other countries. Meanwhile, fish feed sales decreased by 18.3%, primarily due to a decline in seabass feed sales. Additionally, livestock feed sales also dropped by 25.0% as a result of adjustment in the livestock feed sales strategy.
Gross profit was at THB 266.6 million, increasing from the same period of last year by 84.2%. The improvement was due to a strategic shift towards high profit products, effective cost management and enhanced production efficiency, in addition to raw material cost control. As a result, the gross profit margin rose from 11.1% in 3Q23 to 19.2% in this quarter.
