Thai Union posts 10.3% revenue growth to B155.6bn for 2022

Thai Union Group reported full-year 2022 revenue growth of 10.3% to a record high of 155.6 billion baht, driven by petcare and seafood.

Full-year gross profit rose 5.8% to 27.2 billion baht, while net profit dipped 10.9% to 7.1 billion baht.

In the fourth quarter of 2022, sales increased 2.9% to 39.6 billion baht. Operating profit rose 20.6% to 2.4 billion baht.

However, Thai Union was able to deliver a half-year dividend of 0.44 baht per share, bringing the full-year dividend to 0.84 baht per share.

The company continues to deliver a consistent payout with a highly attractive yield at 5.3%.

Ambient seafood sales grew 12.8% year-on-year in 2022 thanks to higher selling prices and continued strong demand, particularly across Asia and the US, amid the launch of new and innovative products.

The petcare segment maintained its strong momentum, with sales rising 48%…