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Article: Stronger Baht Dents Thai Food Company in Second Quarter, But Rival Improves.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- August 14, 2002
CopyrightCOPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 14--The baht's depreciation has taken its toll on Thai Union Frozen Products Plc (TUF), trimming the company's second-quarter net profit by 13 percent to 270.2 million baht from 311.2 million in the same period of last year.
At the same time, another major food exporter, Charoen Pokphand Foods Plc (CPF), reported a net profit of 893 million baht from 18.56 billion baht in revenue for the second quarter of this year. The profit was 17 percent more than the 762 million baht posted in the first quarter, while the revenue was up by 5 percent from 7.61 billion baht.
TUF achieved US$195.2 million in sales for the second quarter, a 6 percent rise from ...