Frozen seafood exporter Thai Union Frozen Products has blamed a 30% decrease in the price of tuna for the 23% drop in its Q3 net profits. Narrower margins saw 1999's same period profits of THB475m fall to THB364.4m, despite a 12% increase in sales, which reached THB5.41bn. Earnings per share also dropped from last year's THB6.34 to THB4.32.

Thai Union Frozen Products PCL - Bangkok Figures in baht (THB)

Third Quarter To September 30:    
 
2000
1999
Net Profit
364,353,000
474,981,000
Earnings per share
4.32
6.34
     
Nine Months To September 30:
  
  
 
2000
1999
Net Profit
980,218,000
1,448,694,000
Earnings per share
11.58
20.49

($1=THB43.465)