First-half sales and profits at Clearwater Seafood rose as the Canadian group benefited from “strong” demand and foreign exchange.

Clearwater swung to net profit of C$6.7m (US$6.1m) compared to a loss of C$11.6m in the first half of 2013.

The company booked adjusted EBITDA of C$30.6m for the 26 weeks ended 28 June, up from C$27.9m a year earlier.

It said its gross margin improved from 18.4% to 20.4%. Clearwater pointed to “strong demand, higher prices for the majority of species and favourable exchange rates”.

Sales jumped 16.8% to C$163.7m.

“Global demand for seafood is outpacing supply, creating favorable market dynamics for vertically integrated producers such as Clearwater which have strong resource access,” Clearwater said. “Demand has been driven by growing worldwide population, shifting consumer tastes towards healthier diets, and rising purchasing power of middle class consumers in emerging economies.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.