i-Tail Corporation Public Company Limited (ITC), leader in the pet food industry, reported first-half 2026 sales of USD 316 million, up 20.6% year-on-year (THB 10.04 billion, up 15.1%). Based on these results, the board of directors approved an interim dividend of THB 0.55 per share, representing a 96.2% payout ratio.
Gross profit for the first half reached THB 2.60 billion, up 21.6% year-on-year, with a gross profit margin of 26.8%. Operating profit rose 28.2% to THB 1.56 billion, while adjusted net profit reached THB 1.95 billion, up 22.5%.
Roy Chan, Chief Executive Officer of i-Tail, stated that the first-half performance reflects business strength, disciplined cost management, and continued strategy execution. He added that the company will continue innovating for high-growth segments, utilizing automation for efficiency, expanding key markets, and integrating sustainability into commercial value.
In the second quarter of 2026, i-Tail recorded sales of USD 152 million (THB 4.87 billion), up 13.0% year-on-year. Q2 gross profit increased 20.2% to THB 1.35 billion, maintaining a 29.7% margin despite higher raw material and packaging costs tied to the Middle East conflict. The margin was supported by cost management, efficiency gains from its transformation program, and premium products, which accounted for 52.4% of sales. Q2 operating profit stood at THB 802 million, while adjusted net profit reached THB 964 million.
Pet treats accounted for 20.0% of total pet food sales in the first half of 2026, driven by demand for functional treats and new offerings. i-Tail introduced over 400 new products across its portfolio during the period.
First-half sales volume grew 8.7% year-on-year to 60,555 tons, with growth across all three primary regions:
- Americas: Represented 60.0% of total sales, growing 17.9% year-on-year, driven by demand for chunk and pâté formats, lickable treats, and home-cooked meals.
- Europe: Represented 14.0% of total sales, rising 27.2% year-on-year due to customer demand and new client additions.
- Asia and Oceania: Represented 26.0% of total sales, up 4.0% year-on-year, supported by product relaunches in Japan and functional pet food developments.
Following its first-half performance, i-Tail raised its full-year 2026 U.S. dollar sales growth guidance from 9–12% to 17–20%, while keeping its gross profit margin target at 23–25% and SG&A-to-sales ratio at 9–10%.
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