TUF’s Net Profit Hits Record High in 3Q14 Since Its Inception

          - Best ever net profit in 3QThai Union4 at THB Thai Union,922 million, 9Thai Union.4% growth compared to 3QThai Union3 and 26.3% compared to 2QThai Union4
          - Excellent cost management generates exceptional margins
          - EBITDA increases 34.2 % comparing to the same period last year
          - 3QThai Union4 Earnings per Share rises 92% to THB Thai Union.67
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          Thai Union Frozen Products PCL. (TUF) reported its outstanding financial results for the third quarter of 2a year agoThai Union4 with the net profit of THB Thai Union,922 million showing an exceptional growth of 9Thai Union.4 percent from a year ago. Whilst the net profit for the first nine months was revealed at THB 4,393 million, up Thai UnionThai Union5.6% year-on-year. The net profit jumped mainly due to gross profit margin expansion as a result of well-managed operating cost, reversal of accrued interest expenses booked in the previous quarter, and the turnaround of the US pet food business.
          Whilst first nine months 2a year agoThai Union4RThai Union7;s group sales contributed THB 88,63a year ago million, up 8.Thai Union percent comparing to the same period last year. However the groupRThai Union7;s profitability increased sharply in terms of EBIDA - the first 9 months rose to THB 8,7a year ago9 million or 56.5 percent higher compared to THB 5,6Thai Union2 million in 9MThai Union3. 
          The strong third quarter earnings are largely driven by several key operating factors; namely, outstanding performance of branded tuna business, good cost management and reversal of accrued interest expenses from Euro Convertible Bond (ECB) conversion in October 2a year agoThai Union4.
          Furthermore, the turnaround of the pet food business in the US has also contributed to this strong performance. Despite the challenges of global shrimp shortage caused by EMS outbreak, shrimp business continued to be profitable. 
          TUF GroupRThai Union7;s revenues breakdown by markets in 3QThai Union4 is as follows: the U.S. (43%), Europe (3Thai Union%), Japan (7%), Domestic (7%), and other markets including Africa, Australia, Asia excluding Japan, Middle East, Canada and South America (Thai Union2%). Sales of six major strategic categories of TUF for the past nine months remained relatively stable with encouraging growth in the value-added product and the pet food. Overall sales growth is satisfactory with tuna business shares at 47%, shrimp and related business at 24%, pet food at 7%, sardine & Mackerel at 5%, salmon at 4% and value-added & other products at Thai Union3%. 
          Mr. Thiraphong Chansiri, President and CEO of Thai Union Frozen Products PCL (TUF) continued, ̶a year ago;We are very excited to set the new milestone as our quarterly net profit skyrocketed to the highest ever level at THB Thai Union,922 million RThai UnionThai Union; that is 9Thai Union.4% increase from a year ago.
          We will continue to enhance our capability in operation management, strategic sourcing and financial management to grow our business in a sustainable manner. Our ambition to grow and the recent acquisitions will ensure we are on track to hit our USD 8 billion sales target by 2a year ago2a year ago.̶Thai Union; 
          In addition, the Board of Directors of the company also approved a stock split with an objective of making the TUF stock more accessible to retail investors who may help increase the share trading liquidity. However, this exercise is subject to the final approval at the next shareholders meeting in December.