(Corrects paragraph 6 to show that 4.8 billion baht is total
capital expenditure this year, not only investment in German
BANGKOK May 18 Thai Union Pcl, the
world's largest producer of canned tuna, said on Thursday it
expected second-quarter sales to be higher than the first
quarter due to seasonal factors in fisheries.
Supply is usually higher in the current quarter, which is
expected to lower costs and boost sales, although tuna prices
are still volatile due to weather patterns and campaigns
promoting sustainable fisheries, Bunlung Waiyanont, investor
relations manager, told reporters, without elaborating.
Thai Union had sales of 31.4 billion baht ($910.7 million)in
the first quarter, when net profit jumped 19 percent to 1.47
The profit was helped by its investment in U.S. seafood
chain Red Lobster, foreign exchange gains and lower tax
expenses, the firm said.
The company is still aiming for sales of between 145 billion
baht and 150 billion baht this year, Bunlung said.
It plans to invest 4.8 billion baht this year in a fish oil
plant in Germany and also in expanding existing factories, he
said, adding that the fish oil plant would be operational later
The firm has said it would not focus on mergers and
acquisitions this year.
Last year, the company bought a minority stake in Red
Lobster Seafood Restaurants in a $575 million deal to expand in
the United States, its biggest market.
($1 = 34.48 baht)
(Reporting by Chayut Setboonsarng; Editing by Amy Sawitta
Lefevre and Amrutha Gayathri)