Pacific Andes International Holdings Ltd. on Tuesday reported its first-quarter results ending 28 September, including a 10.9 percent increase in revenue.
The Hong Kong-based company, which operates Pacific Andes Resources Development Ltd. and China Fishery Group Ltd., posted first-quarter revenue of HKD 1.73 billion, up from HKD 1.56 billion in the first quarter of fiscal 2009. The firm attributed the growth to higher revenue from both its frozen fish supply chain management and fishing divisions, as well as greater operating efficiencies.
The company's first-quarter gross profit reached HKD 379.6 million, up 21.9 percent from the first quarter of fiscal 2009, and its net profit totaled HKD 167.4 million, up 11.2 percent.
