THAILAND: Acquisition boosts Thai Union Frozen H1 profits

Seafood giant Thai Union Frozen Products has booked an increase in first-half profits, boosted by the consolidation of MW Brands.

For the six months to the end of June, profits climbed by 17% to THB1.99bn (US$62.6m), the firm reported on Friday (5 August). Sales in the period jumped by 40% to reach THB47.90bn.

For the second quarter, profits reached THB1.24bn, a 42% increase on the prior-year period, while sales soared by 45.3% to THB24.86bn.

Thai Union Frozen Products became the world’s largest seafood firm after acquiring John West tuna-owner MW Brands in July last year.

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