Higher salmon sales help Camanchaca net $10 million in income through three quarters
SEAFOODNEWS.COM [Techno Press] November 24, 2014
After a down year in 2013 Camanchaca posted much improved financial results through the first three quarters of 2014 mostly driven by higher global salmon prices.
Through September the Chilean salmon producer reported a net income of $10 million. This is in stark contrast to the $28 million loss in revenues Camanchaca posted the same time last year. Through three quarters earnings totaled $43 million, compared to a $5.4 million loss in the same period of 2013.
"This utility is mainly explained by divisions and South Salmon Growers who increased their earnings by $ 25 million and US$ 3.6 million respectively," said a Camanchaca regulator. "This EBITDA represents 12% of sales."
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