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Thai Union Frozen Q1 net profit jumps 59 pct on forex gain
May 15, 2015 / 6:17 AM / 2 years ago

Thai Union Frozen Q1 net profit jumps 59 pct on forex gain

BANGKOK, May 15 (Reuters) - Thai Union Frozen Products PCL (TUF), the world’s largest canned tuna maker, said on Friday its first-quarter net profit rose 59 percent mainly due to foreign exchange gains and lower finance costs.

Net profit was 1.5 billion baht ($44.64 million) for the January-March quarter, well above the 790 million baht average forecast by five analysts surveyed by Reuters.

Sales rose 2.4 percent from a year earlier due to consolidation of three seafood companies the group acquired, it said in a statement.

It had foreign exchange gain of 1.12 billion baht versus a 254 million baht gain in the same period a year earlier. ($1 = 33.6000 baht) (Reporting by Khettiya Jittapong; Editing by Muralikumar Anantharaman)

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