Better results from clams, scallops and shrimps, plus lower costs and a favourable impact from foreign exchange have helped boost quarterly earnings at Clearwater Seafoods.
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The Canada-based group today (10 November) posted a net profit of C$418,000 (US$396,840) for the three months to 3 October – against a net loss of C$10.2m a year earlier.
EBITDA leapt by 40% to C$25.4m with better returns from scallops, shrimps and claims helping margins.
Turnover, however, fell 8.7% to C$74.5m.
“We are pleased to report continued strong results in 2009 despite the challenging worldwide economic conditions,” insisted chairman and CEO Colin MacDonald.
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