Thai Union Group's Q2 Profits Go Up Amidst Declining Sales
Seafood giant Thai Union Group has reported a gross profit margin of 13.8% amounting to THB 4.7 billion (€122 million) in the second quarter of its financial year after a historic low of 11.3% in Q1.
However, the company whose brands include John West, King Oscar, Chicken Of The Sea, reported a 2% year-on-year decline in 2018 second-quarter sales of THB 34.1 billion(€885 million).
The volatility in the market is a result of declining tuna sales, high-priced raw materials, and appreciation of the Thai Baht.
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