Thaifoods Group Public Company Limited (SET: TFG) has reported steady performance in the first-quarter 2026 financial results, navigating a challenging environment of falling swine and poultry selling prices through strategic retail expansion and improved operational efficiencies.
The company reported a net profit of Baht 2,047.09 million, representing a modest increase of 0.51% from the Baht 2,036.62 million earned during the same period in 2025. Total revenue for the quarter reached Baht 17,877.88 million, up 0.14% year-on-year.
A key highlight of the report was the improvement in overall profitability. TFG’s gross profit margin rose to 21.68% from 21.19% in the prior year. This margin expansion was largely attributed to enhanced cost management efficiency and an increase in domestic swine production volume, which helped mitigate the impact of declining selling prices across the livestock sectors.
The company’s income structure underwent a significant shift this quarter as the retail shop business emerged as the primary growth engine. Revenue from retail shops surged 30.66% to Baht 8,094.71 million. TFG has aggressively expanded its footprint, growing from 430 shops in Q1 2025 to 690 shops by the end of Q1 2026. This segment now accounts for 45.28% of total revenue, up from 34.70% a year ago.
In contrast, the traditional poultry and swine segments faced substantial headwinds. Poultry revenue dropped 19.47% to Baht 4,163.64 million, while swine revenue fell 27.07% to Baht 2,673.49 million. These declines were driven by lower market prices, with average chicken prices falling 12.33% to Baht 52.11/kg and Thai swine prices plunging 31.34% to Baht 48.29/kg. However, management noted that these revenue figures were also impacted by accounting shifts, as a portion of sales volume previously recorded in these segments is now captured under the retail shop business.
Despite price volatility in the livestock markets, TFG’s strategic pivot toward direct-to-consumer retail and rigorous internal cost controls allowed the firm to maintain its growth trajectory and deliver a Baht 3,812.81 million gross profit.
Additionally, the Board of Directors approved a dividend payment of Baht 0.085 per share to be paid on 11 June 2026. The ex-dividend date is 25 May 2026.
