A reduction in costs cushioned a revenue tumble across most segments of Thai Union's global business in the fourth quarter of 2023.

The group made a 10.7 percent year-on-year increase in earnings before interest, tax, depreciation and amortization (EBITDA) to THB 3.2 billion (€82.6 million/$89 million) thanks to a significant freight cost reduction.

Revenue, however, was down 10.3 percent to THB 35.5 billion (€915.8 million/$986.9 million) from a high baseline last year.

Within this, the group's petcare segment fell 17 percent, frozen and chilled seafood fell 13.3