Thai Foods Group (TFG) Sees Profit Trend Acceleration in 2H24

TFG’s Profit Trend Expected to Continue Accelerating in 2H24

Yuanta Securities (Thailand) estimates that TFG’s profit trend will continue to accelerate in 2H24, following the recovery of the domestic pork industry. The current price of pork is around 74 baht/kg and is expected to increase during the rest of the year.

Normal Profit for 2024 Expected to Reach 3,197 Million Baht

The company is expected to return to accelerating the expansion of Fresh Market stores by approximately 100 more branches in 2H24, supporting TFG’s overall operating results in 2024 expected to be 3,197 million baht, a significant increase from the loss of 499 million baht last year.

Pork and Chicken Prices on the Rise

KGI Securities (Thailand) has indicated that the trend is positive in the next period, with pork sales volume and price expected to increase. The net profit forecast for 2024 has been increased by 60% to 2.78 billion baht, and 2025 by 47% to 3.33 billion baht.

Key Highlights

• TFG’s profit trend expected to continue accelerating in 2H24
• Normal profit for 2024 expected to reach 3,197 million baht
• Pork and chicken prices on the rise
• Net profit forecast for 2024 and 2025 increased