Thai Union Frozen Products, the world's biggest canned tuna producer, reported a 60 percent drop in net profit to the lowest in eight quarters, hit by a sharp fall in tuna prices and higher costs in its shrimp business.
Thai Union, which makes the "Chicken of the Sea" brand and counts Walmart and Costco among its buyers, posted an October-December net profit of THB 612 million (USD 20 million, EUR 15.4 million), down from THB 1.52 billion (USD 51 million, EUR 39 million) a year earlier.
