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Thai Union Frozen Products Reports Big Profits in Food Sales.
Byline: Charoen Kittikanya
Mar. 2--Despite a 60 percent drop in fourth-quarter earnings, Thai Union Frozen Products posted a 47 percent rise in net profit last year to 2.27 billion baht on total revenue of 40.83 billion baht.
"The fourth-quarter drop was anticipated, mainly because of the looming US anti-dumping duties on Thai shrimp, a stronger baht, and lower tuna prices," said Prasit Sujiravorakul, analyst at Capital Nomura Securities Plc.
"The pressure from US anti-dumping duties was expected to last until June 8, when the US government makes a preliminary finding that could result in the imposition of punitive import tariffs."
...
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Source: HighBeam Research, Thai Union Frozen Products Reports Big Profits in Food Sales.