To clarify F/S for Q1/2010 and explain the results
Date: April 29, 2010
Subject: To clarify the financial statements for the first quarter 2010 and explain the results
Attention: Director and Manager The Stock Exchange of Thailand
Enclosures: The consolidated and the company only financial statements for Q1/2010
According to the consolidated and the company only financial statements of Thai Union Frozen Products Public Company Limited (TUF) for the period ended March 31, 2010, which have been reviewed by independent auditor, the company would like to notify the results of its operation. TUF's net profit increased by 27% to Bt831.2 million, or EPS of Bt0.94 based on 883,170,950 shares from Bt653.0 million, or EPS of Bt0.74 based on 883,170,950 shares, achieved in the comparable quarter in 2009. The reason was an increasing proportion of value- added products and stronger operating performance at most subsidiaries, especially Chicken of the Sea International. Despite sales in Thai baht term valued Bt16,328.9 million, or 8% fall from Bt17,666.4 million posted in the same quarter of 2009 due to 8% appreciation of Thai baht against US dollar, sales in US dollar term decreased slightly from the same quarter last year as a consequence of 8% lowered tuna prices this year.
Please be informed accordingly.
Respectfully yours,
Mr. Chan Hon Kit, Director
Mr. Chuan Tangchansiri, Director