Pescanova’s 1Q operating earnings, profit up

By

SeafoodSource staff

Published on
May 16, 2010

The Pescanova Group on Friday published its first-quarter results, including a 11.5 percent increase in its pre-tax profit, to EUR 9.1 million (USD 11.2 million).

The Spanish seafood producer also posted a 6.1 percent increase in revenues, to EUR 311.3 million (USD 252.2 million), and an 11.6 percent rise in its EBITDA (earnings before interest, taxes, depreciation and amortization), to EUR 31.1 million (USD 25.2 million), compared to the same period last year.

The company attributed its increase in EBITDA to its investment in its shrimp and salmon-farming divisions as well as in its marketing and trading divisions.

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