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) In the first six months of 2026, Ha Tinh province continued to implement comprehensive solutions to combat IUU fishing; strictly manage the fishing fleet, control fishing vessels entering and leaving ports, operate vessel tracking devices, trace the origin of seafood, and severely punish violations.
(seafood.vasep.com.vn) Vietnam's tilapia exports reached USD 7 million in June 2026, down 32% compared with the same month in 2025. Nevertheless, thanks to strong growth in the first five months of the year, cumulative tilapia exports in the first half of 2026 totaled USD 69 million, up 67% year on year.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company, a member of the Vietnam Association of Seafood Exporters and Producers (VASEP), has been honored with the "Famous Brand - Competitive Vietnamese Brand 2026" certification at an award ceremony organized by the Vietnam Intellectual Property Association (VIPA).
(seafood.vasep.com.vn) China imported nearly $1.4 billion worth of Vietnamese seafood in the first half of the year, a 40% increase compared to the same period last year, surpassing the US to become the largest export market for the industry.
(seafood.vasep.com.vn) As part of Vietfish 2026, the International Seafood Hosted Buyer Program has been designed as a dedicated B2B matchmaking initiative for selected international buyers. The program provides opportunities to meet directly with Vietnamese seafood companies, gain market insights, and experience Vietnam's seafood supply chain firsthand.
(seafood.vasep.com.vn) A Story from Cà Mau’s Coast It’s 5 AM in Cà Mau. Minh, a third-generation fisherman, is ready to set sail. But unlike his father and grandfather, his boat no longer runs on an old diesel engine that burns fuel and clouds the sky with smoke. Instead, it’s powered by a hybrid engine that saves 40% fuel—funded by an ESG program from a major seafood exporter.
(seafood.vasep.com.vn) Vietnam's pangasius industry is shifting its focus from increasing production volume to enhancing value-added products in order to meet the increasingly stringent requirements of export markets. In An Giang Province—the country's leading hub for pangasius farming and processing—businesses and farmers are prioritizing product quality, traceability, food safety, and sustainable development rather than expanding output.
(seafood.vasep.com.vn) Following strong growth in 2025, Vietnam’s tuna exports to Sweden continued to edge higher during the first five months of 2026. However, the picture is far from straightforward. Orders have fluctuated significantly from month to month, indicating that this market remains cautious, with purchasing decisions closely tied to actual demand and the import cycles of Nordic distributors rather than to a steady upward trend.
(seafood.vasep.com.vn) China’s shrimp imports in the first five months of 2026 continued to surpass the same period in 2025, indicating that demand in the world’s largest seafood-consuming market remains strong. However, behind the growth figures lies an increasingly competitive landscape: Ecuador dominates the competitively priced whiteleg shrimp segment, India remains the second-largest supplier, while Vietnam stands out in the lobster segment but still needs to strengthen its advantages through quality, traceability, and reliable supply.
(seafood.vasep.com.vn) Lobster exports to China continued to surge in the first half of this year, putting the lobster industry on the verge of reaching an export value exceeding $1 billion.
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