Icelandic Group reported a EUR 4 million pre-tax loss in 2014, lower overall sales, high restructuring costs in its U.K. operations and a EUR 5.2 million (USD 5.73 million) hit from its early-2014 acquisition of fresh fish supplier Ny-Fiskur.
The group’s operations income reached EUR 581.8 million (USD 641.3 million) for the year, down 1.68 percent from the previous year. The company also acquired Iceland fishing company Útgerðarfélag Sandgerðis ehf.
Icelandic alsounderwent several changes in the past year, including the departure of executives Malcom Eley, CEO, and Magni Thor Geirsson, deputy CEO. Its ready-meals division at its West site facility was shut down and subsequently renamed Icelandic Seachilll.
Click here for the company’s full 2014 annual report.
