| |
| |
 |
| |
|
| |
|
| |
|
SINGAPORE: Mainboard-listed industrial fishing firm China Fishery said its first quarter net profit rose 12.5 per cent to US$18.3 million.
The increase in profit came despite a 3.2 per cent decline in revenue to to US$101.4 million for the three months to December.
China Fishery said significantly higher fishmeal prices made up for the reduction in sales volume resulting in a smaller reduction in fishmeal revenue to S$13.3 million.
Going forward, the company forecasts growth in all three areas of its operations.
In the North Pacific, total allowable catch of its major harvest species has increased by 13.5 per cent, which equates to higher expected catch volume in 2010.
The firm's Peruvian fishmeal operation will also continue to benefit from anticipated rising fishmeal prices.
China Fishery said its South Pacific operation is also expected to make significant revenue contributions from the second half of this financial year as the major fishing season begins in March till October. - 938LIVE/vm
|
