China Fishery Group Warns Warming Waters Off Peru Likely to Hurt Q2 Results, Plans New Rights Issue to Repay Copeinca
SEAFOODNEWS.COM [Straits Times] By Melissa Tan - February 11, 2015
Warmer waters in Peru cooled earnings for industrial fishing firm China Fishery Group and parent Pacific Andes Resources Development in their first quarter.
Both mainboard-listed firms warned that their second-quarter results could be hit by the higher temperatures. They called a trading halt yesterday morning after releasing their financial results.
A large chunk of revenue for Pacific Andes, a frozen fish supplier, comes from China Fishery, in which it owns a 70 per cent stake...
To Read Full Story Login Below.