Seafood company acquisitions boost TU profits


Sean Murphy, SeafoodSource online editor

Published on
November 11, 2015

Recent acquisitions have bolstered 3Q profit margins to record-breaking levels for Thai Union Group (TU).

The company reported a 3Q 2015 gross margin of 17.3 percent, which the company described as a four-year high. Sales are up, too, by 7.2 percent to THB 32.6 billion. Net profits stand at THB 1.63 billion, according to the company.

The company credited new acquisitions for the increases. The company recently purchased MerAlliance, King Oscar and Orion, all divisions that TU said are performing well.

In commenting on the quarter, President and CEO Thiraphong Chansiri (pictured) said he was “very pleased with the third-quarter performance,” and that TU was still on the overall goal of reaching a 2020 revenue target of USD 8 billion.

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