Growing losses from both its seafood and speciality foods business have worsened quarterly figures at Vita Food Products.
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The company booked third-quarter losses of US$812,000 for the three months to the end of September – up from $725,000 a year earlier.
Losses from Vita Seafood inched up from $291,000 to $296,000, while losses from Vita Speciality Foods grew from $434,000 to $516,000.
Vita said “obsolete and slow-moving inventory” was to blame for the widening losses from its speciality business.
Sales were down almost 5% to $11.8m.
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By GlobalDataLast week, Vita announced plans to pull its shares from the American Stock Exchange in a bid to trim costs from the business.
