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John West Owner Posts 1.2% Sales Increase In Q2

John West's parent company Thai Union has delivered a 1.2% to THB 34,818 million (€886 million) in its second quarter according to its latest 2017 financial figures.

The seafood producer said that it posted the sales rises despite significant currency exchange fluctuations and variable market conditions'.

Thiraphong Chansiri, CEO of Thai Union Group, said the group is satisfied with its operational resilience despite facing persistent challenges in higher raw material costs and variable economic conditions in many markets.

In relation to the breakdown of its regional sales, the compnay which owns other brands such as Petit Navire and King Oscarit outlined that Europe accounted for a third of its branded product sales in the first half.

The Thai domestic market accounted for 8% of sales, Japan accounted for 6%, and 'other markets' accounted for 15%.

However, the US which is its biggest market US, where it holds the Red Lobster brand, it's biggest market (38%).

“Our strategic investment in Red Lobster and effort in cost control continue to deliver positive results." Chansiri said.

In the first half, sales totalled THB 66,244 million, up 1% on the previous year, while net profit was up 4.4%.

© 2017 - Checkout Magazine by Donna Ahern

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