Thai Union 2Q profit down, but above forecast

Thai Union Frozen Products Pcl, the world's biggest canned tuna maker, reported a 22 percent drop in quarterly net profit on Thursday, due mainly to a one-off financial charge incurred from a debt repayment.

Thai Union, which makes the “Chicken of the Sea” brand and counts Walmart and Costco among its buyers, posted an April toJune net profit of THB 1.0 billion (USD 31.72 million), down from a revised THB 1.28 billion a year earlier and a record THB 1.46 billion in the previous quarter.

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