November 26, 2008

Alfesca Seafood Group's sales fall 2.5 percent

The Alfesca Seafood Group has announced a 2.5-percent drop in sales for the first quarter of 2008-09.


Sales reached EUR 125.2 million (US$162.4 million), while EBITDA declined 11 percent to EUR 6.4 million (US$8.3 million).


The decrease was attributed to changing consumer demand and buying behaviour, as well as the strengthening US dollar which increased the cost of prawns.


However, Alfesca remained upbeat, saying that the performance is robust amid a period impacted by high commodity prices and adverse currency movements.


Alfesca chief executive Xavier Govare said the company is now preparing to provide salmon products for the Christmas period.


Sales will be boosted as consumers cancelled expensive holidays and restaurants visits to dine at home amid the economy slowdown, according to Govare.


Alfesca is a producer of convenience and fine food products in the EU, also owning Farne Salmon and Trout in Scotland and Lyons Seafood in England.

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