Canadian fish company Fisheries Product International (FPI) has reported a small loss in the second quarter, due to the stronger Canadian dollar and the weaker US economy.

Newfoundland-based FPI posted a loss of C$0.2m (US$0.14m), or 1 Canadian cent per share, for the quarter to 30 June, compared with a profit of $1.2m, or 8 Canadian cents per share, a year earlier.

FPI said fish and seafood sales were $176.4m in the second quarter, compared to $170.1m in the year-ago period.

“It has been a difficult year so far and there’s no question that we’re disappointed with the year-to-date results,” FPI chief executive officer Derrick Rowe was quoted by Reuters as saying.

“But we’re confident that the worst is behind us. Recent data indicates the US food service market has already begun to turn around,” he said.