Thai Union's earnings report showed an increase in earnings partly driven by stronger performance in the frozen seafood category, the company said Tuesday.
Earnings before interest and taxes (EBIT) rose 9.5 percent to THB 2.3 billion (€66.7 million/$74.8 million) in the second quarter of the year.
Net profit also showed year-on-year growth of nearly 11 percent to THB 1.5 billion (€43.5 million/$48.8 million), the report said.
Turnover over the period fell nearly 5 percent, to THB 32.2 billion (€93.4 million/$1 billion), a drop explained by the appreciation of the THB against European currencies.
A one-time accrual of THB 1.858 billion (€53.8 million/$60.3 million), following Chicken of the Sea's price-fixing case, also impacted the company's standing, although this expense was not accounted for in the figures presented.
Other factors affecting results were falling raw material prices as well as a focus on higher-value products.
Ambient seafood sales fell 14.3 percent to THB 14 billion (€406.5 million/$455.3 million) over the year, while gross profit in this division was up 9.1 percent year-on-year.
Meanwhile, frozen and chilled seafood sales reached THB 13.4 billion (€389.1 million/$435.8 million), up 3.6 percent year-on-year, due to an increase of 10 percent in sales volume.
