August 31, 2011

Pescanova's net profit increases in H1

Pescanova, a Spanish fish and seafood products group, attained a net attributable profit of EUR15.1 million (US$21.8 million) in H1 this year, rising 20.3% on year.

The company's sales went up by 6% in the EU and increased by 10.7% in the other countries worldwide, with significant rises in the US, China and Japan.

In the first six months, Pescanova's total turnover came in at EUR624.99 million (US$902.1 million), up 5.9% on the year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 13.1% to EUR68.1 million (US$98.3 million).

Pescanova reminded that in the first half of the year it reinforced its financial positions by carrying out an issue of convertible bonds worth EUR180 million (US$259.8 million). The debt instruments mature in 2017.