However, both sales and net profit have grown for the firm. "If TUF wants to achieve 15 per cent growth in 2012, revenue must grow by 20 per cent in the second half," announced deputy general manager Wai Yat Paco Lee at a Stock Exchange of Thailand (SET) this week.
"I think we'll likely make it, but it won't be easy," he added. He noted that last year's revenue mark hit about THB 100 billion (USD 3.2 billion) and said the price of raw tuna has climbed by 40 per cent since last year, which may have a psychological impact on customers' purchasing decisions when market competition is high, Bangkok Post reports.
TUF had a net profit jump of 21 per cent to THB 2.47 billion (USD 78.4 million) in the first half of the year, as sales rose by 10 per cent to THB 52.1 billion (USD 1.7 billion) year-on-year.
However, in Q2 2012, net profit fell by 22 per cent year-on-year to THB 1 billion (USD 31.2 million) despite an 8 per cent surge in sales to THB 26.8 billion (USD 850.8 million).
The drop in profit was mainly attributable to an extraordinary item worth THB 400 million (USD 12.7 million) due to amortisation of a deferred finance fee incurred by the acquisition of MW Brands last year. Without such payment, profit rose by 9 per cent from year-on-year to a record high of THB 1.4 billion (USD 44.4 million).
TUF president Thiraphong Chansiri said the overall performance in the first half of the year demonstrates the company’s continued growth despite a price hike in raw materials, persistent volatility of the national currency and economic volatility in the west.
"Our business involves staple food products for basic consumption," he said. "Persistent economic crisis may even help the company to cover new potential investment opportunities in Europe."
Although TUF faces relatively tough market competition in the US, it still presents strong results and profit margins.
TUF will capitalise on emerging opportunities from the upcoming Association of Southeast Asian Nations (ASEAN) Economic Community for its greater aggressive regional presence. The firm is also exploring opportunities in Myanmar, Vietnam, Laos and Cambodia.
Thiraphong assured that Europe's economic crisis has had no negative impact on the group and that MW Brands in Europe continued to deliver a robust performance with stable margins.
(seafood.vasep.com.vn) Although Germany’s tuna imports have declined, Vietnam’s tuna exports to the market continue to show positive signs. Notably, export value recovered strongly in Q3/2026, and German import data also show Vietnamese products strengthening their position amid competition among suppliers.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
(vasep.com.vn) China’s shrimp imports continued to grow strongly in 2026, while Vietnam’s shrimp exports to the market also recorded notable growth. However, behind these positive figures lie two distinct trends: Chinese consumption is growing more slowly than imports, and lobster accounts for a substantial share of Vietnam’s shrimp exports to China, making its product mix significantly different from those of Ecuador and India. Exporters therefore need to assess each segment carefully to understand the opportunities and risks.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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