By SeafoodSource staff
Published on 12 November, 2012
Clearwater Seafoods third quarter results include sales of CAD 101.6 million (USD 101.4 million, EUR 79.8 million) and EBITDA of CAD 25.1 million (USD 25 million, EUR 19.7 million), compared to CAD 97.6 million (USD 97 million, EUR 76.7 million) and CAD 22.8 million (USD 22.8 million, EUR 17.9 million) during the same time period in 2011.
The figures represent a 4.2 percent growth rate, making the third quarter of 2012 the 11th consecutive quarter of growth for the Canadian seafood supplier.
For the year to date, Clearwater reported sales of CAD 257.5 million (USD 257 million, EUR 202 million) and EBITDA of CAD 52.6 million (USD 52.5 million, EUR 41 million), both up from last year’s figures of CAD 245.6 million (USD 245 million, EUR 192.9 million) and CAD 44.8 million (USD 44.7 million, EUR 35.2 million), respectively.
The growth in sales is a result of higher sales volumes, particularly of coldwater shrimp, as well as high sales prices for most species.
“In the quarter the company had the highest revenues and EBITDA in its history,” said Ian Smith, CEO. “Management is satisfied with the progress made towards both our 2012 and longer term financial targets and we have every expectation that our momentum will continue through the balance of fiscal 2012 and into 2013.”