Thai seafood company Thai Union Frozen Products has forecast an increase in its net profit in 2003 of at least 20% from 1.55bn baht (US$36.2m) in 2002, due to increased exports.

“Our growth policy for 2003 is to boost our revenues by at least 15% and our net profit by at least 20%,” president Thiraphong Chansiri was quoted by Reuters as saying. “We expect our tuna sales and revenues from our business in the United States to improve, while shrimp sales are recovering.”