Asian Sea Corporation Public Company Limited (SET: ASIAN) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
248.35 | 214.84 |
| Earning Per Share (Baht) |
0.3100 | 0.2600 |
| % Change | 15.60 | |
ASIAN reported a net profit of THB 248 million in 1Q22, increased by 15.60% from a net profit of THB 214 million in 1Q21. The increase was mainly due to its higher revenue during the period.
In 1Q22, ASIAN reported core sales & service revenue of THB 2,837 million, increased by 35% YoY. The Pet Food business drastically increased by 63% due to maintaining solid growth. Meanwhile, Frozen seafood business substantially increased by 51% primarily from higher squid products and pre-fried seafood frozen products. However, Aquafeed business significantly dropped from customer portfolio adjustment and fish feed product quality which decreased by 31%. Tuna business also decreased by 7%.
Gross profit in 1Q22 was THB 477 million. An increase of 34% YoY was mainly driven by higher sales of Pet Food business and Frozen business. Gross profit
