Pacific Andes FY profit up 27.5 percent driven by Peruvian fishmeal operations
SEAFOODNEWS.COM [Business Times] By Teh Shi Ningtshining - November 24, 2014 -
Full-year net profit for global frozen fish supplier Pacific Andes Resources Development (PARD) has jumped 27.5 per cent thanks to the expanded Peruvian fishmeal operations at its subsidiary, industrial fishing company China Fishery.
PARD's net attributable profit rose to HK$953 million (S$160 million) for the year ended September 28, up from HK$748 million in the previous year, the group reported in a statement to the Singapore Exchange on Saturday.
This was despite a 7.3 per cent drop in revenue to HK$8.13 billion from HK$8.76 billion the year before, due to a 27.7 per cent drop in sales volumes from the frozen fish division. That was offset by higher contributions from its Peruvian fishmeal operations to PARD's fishery and fish supply business segment.
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