To clarify financial statements year 2009 and explain result
Ref: 08/530215
Date: February 15, 2010
Subject: To clarify the financial statements for year 2009 and explain the results.
Attention: Director and Manager, The Stock Exchange of Thailand
Enclosures: The consolidated and the company only financial statements and the results for 2009.
According to the consolidated and the company only financial statements of Thai Union Frozen Products Public Company Limited (TUF) for the period ended December 31, 2009, which have been audited by independent auditor, the company would like to notify the results of its operation. The 3% decrease in dollar sales and decreased slightly in baht sales from Bt69,048.1 million in 2008 to Bt68,994.5 million in 2009. TUF's net profit increased by 52% from Bt2,200.5 million (EPS Bt2.51, based on 883.17 million shares) in 2008 to Bt3,343.8 million (EPS Bt3.79, based on 883.17 million shares) due to successful cost management, a higher proportion of value-added products and stronger operating performances at all local subsidiaries.
Within the fourth quarter last year, TUF's net profit increased by 134% to Bt718.4 million from Bt307.1 million achieved in the comparable quarter in 2008 due to a higher proportion of value-added products, stronger operating performance at all local subsidiaries, higher FX gain including absence of vessel maintenance expenses. Despite sales in Thai baht decreased by 7% from the year before Bt18,409.5 million to Bt17,201.7 million.
Please be informed accordingly.
Respectfully yours,
Mr. Chuan Tangchansiri, Director
Mr. Chan Tin King, Director