Resilience and Premiumization Drive Strong Q3 Performance for ITC
i-Tail Corporation PCL (ITC), a recognized global leader in the pet food industry, reported robust financial results for the third quarter of 2025.
The company’s sales reached THB 4.7 billion, marking a solid increase of 6.4% year-on-year and a 5.5% improvement from the previous quarter.
This surge was primarily fueled by vigorous demand and strong growth across key international markets, particularly in the United States and Europe.
In U.S. dollar terms, sales grew even more significantly, rising by 14.2% year-on-year to $144 million, effectively reinforcing the company’s sustained growth trajectory and its strong, trusted relationships with global customers.
The operational efficiency was reflected in the adjusted financial metrics, with adjusted gross profit reaching THB 1.2 billion, which was up 6.4% quarter-on-quarter.
Even more encouraging was the adjusted net profit, which climbed to THB 927 million, representing a 15.4% increase over the second quarter.
Roy Chan, Chief Executive Officer of ITC, noted the company’s resilience in navigating a challenging global economic landscape.
He attributed the third quarter’s growth to burgeoning demand in the U.S., which remains their single largest market, alongside an increased contribution from high-margin premium products.
The share of sales derived from these premium offerings reached an impressive 55.1%, which was instrumental in maintaining a solid gross profit margin of 25.4%.
Despite external short-term impacts such as tariff adjustments and currency appreciation, these quarterly results decisively underscore the fundamental strength of the company’s diversified product portfolio, high operational efficiency, and deep, trusted partnerships established with global clientele.
The leadership’s strategy remains sharply focused on agility, efficiency, and continuous innovation to sustain profitable growth and deliver enhanced value to all stakeholders.
Nine-Month Growth Fueled by Market Expansion and Innovative Treats
The company’s strong performance was not limited to the third quarter; during the first nine months of 2025, ITC achieved cumulative sales of THB 13.4 billion, reflecting a 3.2% increase year-on-year.
Crucially, when translated into U.S. dollar terms, this growth was more pronounced, reaching a 10.1% increase, demonstrating successful revenue generation regardless of currency fluctuations.
The sustained growth momentum was chiefly powered by continued expansion in the vital U.S. market, which alone recorded THB 7.7 billion in sales, marking a substantial 19.2% increase year-on-year.
The Americas region cemented its position as the primary revenue generator, accounting for 57% of total sales, followed by Asia and Oceania at 29% and Europe at 14%.
Despite various external factors, net weight sales volume across the organization grew by an impressive 11.1% year-on-year, a clear indicator of resilient underlying consumer demand.
New product launches played a significant role in this success, contributing THB 1.7 billion in revenue during the nine-month period.
Pet treats emerged as a particularly strong growth engine, experiencing a remarkable 33.6% year-on-year growth over the first nine months.
This segment’s growth was boosted by increased orders from globally recognized pet food companies and private label brands.
ITC continues to strengthen its leadership position in this fast-growing pet treats segment, proactively aligning its offerings with emerging industry trends.
These trends include the rising demand for functional and wellness-oriented products, seasonal and event-based treats, and the pervasive “humanization” of pet food, where pet owners seek human-grade quality for their companions.
The pet treats segment’s growing importance was further highlighted by its contribution of 17.5% to total sales in the third quarter of 2025, which reflects the soaring consumer demand for high-quality, innovative products within this category.
Strategic Innovation and Confidence in Future Market Capture
ITC is strategically investing in innovation to maintain its competitive edge and capture future opportunities within the rapidly evolving global pet food industry.
The company is actively focusing on the development of proprietary food technologies and the securing of in-house patents.
A key area of this R&D focus includes innovations in meat analogs, a forward-looking effort aimed at expanding the company’s intellectual property portfolio and further enhancing its product differentiation in a crowded market.
This commitment to advanced technology ensures that ITC can consistently introduce novel and value-added products that meet the changing preferences of modern pet owners.
CEO Roy Chan expressed strong confidence in the company’s trajectory for the remainder of the year, stating that the performance in 2025 is a testament to simultaneous volume growth and successful sales in U.S. dollars.
This consistent dual-metric execution reflects ITC’s operational strength, its reliable global brand partnerships, and the unwavering strategic focus on premiumization across its entire product range.
The combination of a solid operational foundation and a steadfast commitment to innovation, specifically innovation that actively advances pet health and wellness, positions ITC exceptionally well.
The company is poised to effectively capitalize on the ongoing shifts and emerging opportunities in the dynamic global pet food industry, ensuring continued profitable growth and market leadership in the future.
