Thai Union profits and sales up
By SeafoodSource staff
08 November, 2012
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A rise in tuna sales, along with paying
down some corporate debt, led to an increase of nearly 5 percent in third quarter net
profit increase over last year for Thai Union Frozen Products, according
to the company’s latest report.
The
company, best known for producing Chicken of the Sea brand canned tuna,
posted a net profit of THB 1.6 billion (USD 52 million, EUR 40.8
million), a 4.6 percent increase compared to the THB 1.5 billion (USD
48.8 million, EUR 38.2 million) profit recorded in the third quarter of 2011. The
company’s reported noted “strong business operations and steady growth
of each business unit, especially tuna and sardine/mackerel products.”
The report also noted the company paid down a debt, reducing interest payments in the third quarter.
Sales
went up, too, to THB 28.3 billion (USD 920.4 million, EUR 721.8
million), a 12.8 percent increase from THB 25.1 billion (USD 816.3
million, EUR 640.5 million) registered during the same time period in 2011. The company
experienced a 9.1 percent growth in U.S. dollar sales.
For
year-to-date figures, the company’s net profit of THB 4.1 billion (USD
133.4 million, EUR 104.7 million) has gone up 13.8 percent from THB 3.6
billion recorded at this time a year ago. Year-to-date sales performance
went up 10.6 percent from THB 72.7 billion (USD 2.4 billion, EUR 1.9
billion) last year to THB 80.4 billion (USD 2.6 billion, EUR 2.1
billion).
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08 November, 2012