May 10, 2012

Pescanova's Q1 2012 net profit up 5.7% on year

For the first quarter of this year, a net profit of EUR9 million (US$11.7 million) has been reported by Spain's Pescanova, up 5.7% on year.

Revenues rose by 6.5% to EUR351 million (US$455 million), while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 11.7% to EUR38 million (US$49 million), Pescanova said in a regulatory filing.

Pescanova's revenues in Spain went up by 1%, while sales abroad expanded 12%.

The company underlined the success of its aquaculture projects and the stable performance of its core business.