Betagro Public Company Limited (BTG), a leading integrated food company in Thailand, reported second-quarter net profit of 2,594 million baht this year, marking an all-time high since its listing on the Stock Exchange of Thailand (SET), up 313.2% year-on-year (YoY) from 628 million baht and grew 36.7% quarter-on-quarter (QoQ). This robust performance was driven by a proactive export strategy, a high-margin product portfolio, and effective cost control.
Vasit Taepaisitphongse, Chief Executive Officer and Acting President of International Business Group at Betagro, said: This quarter's performance highlighted the success of the company's strategy to expand into high-potential international markets, delivering strong growth over the same period last year. The company's export revenue in the second quarter reached 3,627 million baht, representing a YoY growth of 9.2% from 3,320 million baht. In the first half of the year, Europe led total export revenue with 39%, followed by Japan at 28% and Asia ex-Japan at 27%. This strong results underscore the company's strong competitiveness across international markets. We aim to achieve 15-20% export growth this year.
In parallel, the company continues to optimize its product portfolio and distribution channels to enhance profitability. The focus is on expanding high value-added products, particularly in processed food & meat, to meet contemporary consumer demands for convenience, safety, and high quality, and to better serve Foodservice customers both locally and globally.
Driven by key strategic execution, the company's total income in the second quarter surged to 31,661 million baht, up 15.6% YoY. Gross profit rose to 6,185 million baht, an 61.2% increase from 3,836 million baht. The gross profit margin improved to 19.6%, compared to 14.1% in the same period last year. Additionally, efficient cost management contributed to the company's strong performance, as selling and administrative expenses as a percentage of revenue were significantly reduced to 10.3%, down from 10.6% in the same period last year.
For the second half of the year, Betagro maintains a positive outlook for the food and protein business, driven by several key factors. These include strong domestic demand and robust export growth, and a downward trend in feed costs resulting from easing global raw material prices. Additionally, the recovery of tourism and overall economic activities is expected to stimulate out-of-home food consumption, especially within the Foodservice segment.
"With strong business potential, a clear growth strategy and efficient execution, Betagro is well-positioned to build on its first-half performance and deliver solid growth in the second half of the year - reinforcing its positioning as an integrated food industry leader in Thailand," Mr Vasit added.