ANNUAL REPORT 2011 - Thecorporatelibrary.net

THAI UNION FROZEN PRODUCTS PCL.
we are putting even more efforts in our managing
business in areas of strategy, organizational
management, production and marketing in order
to hold off these increasing outside adversities.
Given the severity of these challenges that could
likely last for a few years, we have put ourselves on
a high alert for any potential negative development.
We believe that these proactive measures should
competitiveness in the global marketplace.
In regard to our 2011 overall operating performance,
MW Brands books into Thai Union Group. During the
course of the year, MW Brands managed to deliver
satisfactory results and achieved set goals in all
quarters. Meanwhile, Tri-Union Frozen Products, Inc.
(established through the merger of Empress
International Ltd. and Tri-Union Frozen Foods, LLC.)
also reported a strong annual performance. With
the operating results of our US and European
subsidiaries well on track, we managed to increase
our total annual sales in US dollar term to USD3,232
million or Bt98,670 million in Thai baht term, which
represented 43% and 38% year-on-year growth
rates respectively. This achievement was one full
year ahead of our original sales target of USD3,000
million set for 2012. More importantly, annual net
representing 77% year-on-year growth. This new
we have developed a robust business model
supported by effective operational policies and
fruit of our employees’ dedication, diligence
and commitment to their work. Our sales target
for 2013 has now been raised to USD4,000 million
while our longer term goal is USD8,000 million for 2020.
These apparently ambitious goals demonstrate the
long-term commitment from all our staff under Thai
Union Group that they would make united efforts
to achieve them.
In order to attain the annual sales target of USD8,000
million within the planned time frame, we have
development strategies, which should serve as
a guidance for our future growth. These internallydeveloped
strategies consist of the following 7
main pillars:
development
best practices
to support growth development
business
Sharing the same view with many world-leading
corporations, we place great emphasis on
organizational development that should get
ourselves ready for a dynamic business environment
where cross-border competition becomes
increasingly complicated. This is also the key
rationale for our need to develop al corporate
vision and a set of future goals that are clear and
understood by our staff. This should enable us to
remain competitive and strong amidst challenging
business conditions in the world marketplace.
To achieve these goals, our management team
needs to act swiftly according to our prescribed
strategies.
Looking back, the milestones that we have
accomplished over decades of operations are a
demonstrated by our management team and all
are the driving force behind our continuously
outstanding performance at TUF. As the president
of TUF, I would like personally recognize the
contributions of our employees, whom I have
always believed as one of powerful drivers behind
our growth. Nevertheless, our sustainable growth
also cannot be made possible without unwavering
support from shareholders, business partners,
continue to uphold our management standards
and move forward to achieve continual and
sustainable growth for TUF in the future.
ANNUAL REPORT 2011
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