TUF Q3 profit nearly double year-ago, announces stock split
SEAFOODNEWS.COM [Reuters] - November 17, 2014 -
BANGKOK, Thai Union Frozen Products Pcl , the world's largest canned tuna producer, said on Friday its third-quarter net profit almost doubled from a year earlier and it would effect a four-for-one stock split.
The growth was driven by higher gross profit margins due to lower raw material prices and gains on foreign exchange rates, the company said in a statement.
The baht gained 0.06 percent against the dollar in the third quarter.
July-September net profit was 1.92 billion baht ($58.5 million), higher than the average 1.73 billion baht estimate by analysts in a Reuters poll, and compared with a net profit of 1 billion baht a year earlier.
To Read Full Story Login Below.