Thai Union sees sales picking up

Q1 revenue down 10% from high baseline the year before, Red Lobster business reviving

Thai Union Group (TU), one of the world’s largest seafood processors, says it is seeing signs of a sales recovery after a first-quarter dip.

The company on Friday reported sales of 32.7 billion baht in the first quarter, a 10% decrease from a high baseline in the same period last year.

First-quarter net profit was 1 billion baht, down 41.5% from 1.7 billion a year ago, mainly attributed to two non-comparable items.

In the first quarter of 2022, the company booked…