SET-listed food company Global Consumer (Glocon), the operator of the A&W fast food chain, posted a profit in the second quarter for the first time in more than nine years.
The gain was partially attributed to surging food demand in line with work-from-home measures implemented by many organisations to curb Covid-19 infections.
Nopporn Phatthararuchi, chief executive of the company, said huge sales growth for frozen food in the domestic market and dried fruit exports helped profitability.
Sales of its frozen processed food and ready-to-eat food in the second quarter grew by 45% to 148 million baht as more people worked and cooked at home.
International sales of dried fruit rose by 27% to 153 million baht as purchase orders from Europe, the US and Asia returned to normal.
Glocon reported its packaging business grew by 22% in the second quarter to 164 million baht.
The company reported consolidated sales revenue of 497 million baht in the second quarter, up 27% year-on-year, with a net profit of 13.6 million, up from a net loss of 8.52 million the same period last year.
In the first six months this year, consolidated sales revenue rose 17% year-on-year to 907 million baht, with a net profit of 8.06 million baht against a net loss of 12.5 million in the same period last year.
Mr Nopporn said in the remaining months of this year the company will strengthen its food business by launching "Kitchen Plus" chilled food and ready-to-eat food with hemp ingredients, sold at 7-Eleven convenience stores starting in the fourth quarter.
In a related development, executive chairwoman Louise Taechaubol said the company will temporarily stop the expansion of traditional A&W restaurants and open two new formats: dessert corners at shopping centres, and food trucks at petrol stations and community malls.
Starting from August until next year, it plans to open two dessert corners at shopping malls each month. The company recently launched its A&W food truck on Itsaraphap Soi 20, bringing the total to four trucks.
A&W waffle is also scheduled to be offered at 45 7-Eleven stores by the end of August, up from 18 now. New A&W menus are slated for 7-Eleven branches, she said.
The company expects sales of 100 million baht from A&W, slightly down from last year.
"We are looking to merge and acquire new food businesses to strengthen our portfolio this year," Ms Louise said.
For overseas operation, the company plans to launch plant-based Thai food menus in France, the UK and US markets in September before expanding to Germany and the Netherlands, with posted promising growth, she said.
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