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TUF earnings up 116%

Thai Union Frozen Products Plc, Thailand's largest frozen and canned seafood exporter, posted the third quarter net profit of Bt911.9 million, up 116 per cent form Bt422 million in the same period last year.

 Its nine-month net profit also rose from Bt1.38 billion to Bt1.89 billion.

 In the filing to the Stock Exchange of Thailand, the company said in the quarter, it witnessed a 35 per cent increase in US-dollar denominated revenue and 34 per cent increase in bath-denominated revenue, which showed the relative stability in the foreign exchange rate unlike in the first half of this year.

 Contributing to the increase is the higher sales of all products like canned tuna (38 per cent), shrimp (26 per cent), squids (21 per cent), canned cat food (57 per cent) and canned seafood (41 per cent).

 TUF also gained from the declining prices in oil prices and tuna.


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