THAILAND: Thai Union Frozen posts 2002 profit boosted by tuna sales

Seafood company Thai Union Frozen Products (TUF) has posted a 3.3% rise in 2002 net profit to 1.55bn baht (US$36.4m), boosted by strong global demand for tuna. TUF said it expects both sales revenues and profits to grow by at least 15% this year due to a recovery in the shrimp business after the EU said it would ease testing requirements for Thai shrimp. TUF also expects strong sales from its US subsidiary Chicken of the Sea.

February 27, 2003

Seafood company Thai Union Frozen Products (TUF) has posted a 3.3% rise in 2002 net profit to 1.55bn baht (US$36.4m), boosted by strong global demand for tuna.

TUF said it expects both sales revenues and profits to grow by at least 15% this year due to a recovery in the shrimp business after the EU said it would ease testing requirements for Thai shrimp. TUF also expects strong sales from its US subsidiary Chicken of the Sea.