Thai Wah Public Company Limited (SET: TWPC) reported consolidated sales of THB 4,762 million for the first half of 2026, an increase of 3.5% YoY, while net profit attributable to owners of the parent stood at THB 139 million, up 0.7% YoY. The results reflect the Company’s ability to sustain revenue growth and maintain profitability despite rising raw material costs, particularly during the second quarter.
For Q2/2026, TWPC recorded sales of THB 2,343 million, representing growth of 1.8% YoY. The Company continued to exercise disciplined management of operating expenses and financing costs, helping to mitigate the impact of higher raw material costs and maintain broadly stable profitability for the first half of the year.
Mr. Ho Ren Hua, Chief Executive Officer of TWPC, said, “The first half of the year tested our supply chain resilience, with cassava root prices remaining elevated due to the lingering effects of drought and the spread of Cassava Mosaic Disease (CMD), alongside cost impacts from geopolitical tensions between the US and Iran. We anticipated these challenges early, and our risk mitigation plans kept the overall impact well contained and manageable.
“The results demonstrate the strength of our execution. The Company delivered continued sales growth while maintaining firm discipline over operating expenses and financing costs. Our Food and Specialty Ingredient (HVA) businesses continued to perform as key growth engines, further strengthening the quality and resilience of the Group’s overall portfolio.”
The Food Business continued to serve as one of the Group’s key pillars, with its contribution to Group gross profit increasing from 46.8% in Q2/2025 to 60.0% in Q2/2026. Together, Food and Specialty Ingredient accounted for 79.5% of Group gross profit in Q2/2026 and 71.5% in 1H/2026, reflecting continued progress in rebalancing the Group’s portfolio toward higher-value and less volatile businesses.
TWPC continues to manage supply and cost risks proactively by diversifying cassava sourcing across Thailand, Vietnam and Cambodia, supported by appropriate inventory management and strategic sourcing across key raw materials and packaging. These measures are intended to strengthen supply security and mitigate exposure to price and supply volatility going forward.
During the first half of the year, the Company launched three new products; Soft Kelp Glass Noodles, Spicy Roasted Chili Boat Noodle Vermicelli, and Double Dragon Crispy Snack. The products have received positive market and consumer responses, particularly Kilenkoo Soft Glass Noodles, whose monthly sales grew by more than 2.6 times within just four months of launch. TWPC plans to launch a total of 8–9 new SKUs in 2026 to broaden its customer base, expand product variety and increase the contribution of higher-value products.
Under its China 2.0 strategy, the Company officially opened its new manufacturing facility in China in mid-July 2026, on schedule, with commercial production now underway. The expanded production base supports growing demand for Specialty Ingredient products, reduces logistics costs, and strengthens TWPC’s ability to serve food-industry customers in the growing Chinese market with greater speed and proximity. The Company expects the new facility to drive double-digit revenue growth in its China business as production ramps up.
TWPC continues to translate its sustainability agenda into tangible business outcomes. Renewable energy adoption reduces the Company’s exposure to energy cost volatility, while proactive management of climate and crop disease risks strengthens raw material security. At the same time, the Company’s sustainable agriculture and traceability programs position it ahead of evolving regulatory requirements and safeguard long-term access to key markets.
The Company is confident that this strong sustainability foundation, combined with financial discipline and proactive risk management, will sharpen its competitive edge and underpin resilient, long-term growth.
