Thai Union Frozen aims for 2014 sales of $4 bln

BANGKOK, March 13 Wed Mar 12, 2014 10:59pm EDT

BANGKOK, March 13 (Reuters) - Thai Union Frozen Products Pcl , the world's largest canned tuna producer, said on Thursday it aimed for sales of $4 billion in 2014, up 9 percent from 2013, with an estimated gross profit margin of at least 14 percent.

Thai Union, which makes the "Chicken of the Sea" brand and counts Wal-Mart and Costco among its buyers, planned to invest 3.5 billion baht ($108 million) this year, mostly to improve production, Wai Yat Paco Lee, head of investor relations, told reporters.

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