The Thai Union Frozen Food (TUF) company has revealed that it expects profit for fiscal 2001 to increase by 20% on last year.

Theerapong Chandrasiri, president of the TUF, explained to today’s edition of Manager Daily that an increase in the price of tuna fish is likely to bolster the company’s profits. Tuna prices have risen from US$700-750 from the second quarter of this year to their current value of US$800 per ton, a figure expected to hold until at least the end of the year.

Theerapong also stressed that the closure of the company’s California plant is not expected to affect TUF’s earnings, because other US/Thai plants have increased their production capacity.