Thai Union Frozen Products is projecting a 12 percent revenue increase next year over an estimated $2 billion in revenue in 2008. Thai Union, the world's second-largest tuna company, expects its gross margin to remain in the 14 to 15 percent next year as well. Sales are expected to increase by an annual average of 13 percent over the next four years, reaching $3 billion in 2012, Thiraphong Chansiri, TUF president, told the Bangkok Post today.
"The global economic slowdown as a result of the recent financial crisis has had no impact on our business so far, probably due to the consumer staple nature of the majority of our products," Chansiri said.
Quarterly sales grew across almost all of the company's product categories, with canned tuna sales up 38 percent, shrimp up 26 percent, squid up 21 percent, canned pet food up 57 percent and canned seafood up 41 percent.
