Canadian fish processor FPI has posted a rise in both sales and profits in its second quarter ended 3 July.
Sales rose 11.5% to C$192.5m (US$144.5m) from $172.7m in the year-ago period. Profits in the quarter came in at $4.1m or 27 cents per share, compared with a loss of $200,000 or one cent per share in the year-ago period.
“We saw operations in all major species, particularly shellfish, up and running for the season,” Derrick Rowe, FPI’s chief executive, said in a release.
The strength of the Canadian dollar in relation to the US dollar continued to impact FPI during the second quarter, the company said, noting foreign currency hedging activities somewhat mitigated the effect.