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Coloso's results improved notably compared to last year. (Photo: Coloso)
Coloso reports profits hike
CHILE
Tuesday, November 10, 2009, 00:20 (GMT + 9)
The Chilean company Sociedad Pesquera Coloso SA generated revenues of USD 15 million in the third quarter of this year -- a marked improvement over the USD 1.5 million reported for the third quarter of 2008.
According to what the company filed with Chile's Securities and Insurance Commission (SVS), the firm's Q3 results were highly influenced by the evolution of surplus anchovy/sardine landings in the region from Valparaiso to Los Lagos, and by the behaviour of jack mackerel, which will reappear in the central-south zone next December.
“A rise in prices and demand has been observed in the fishmeal and fish oil markets. Nonetheless, the volumes for commercialisation in the last quarter are smaller,” the company indicated.
In addition, it is estimated that the level of product sales for human consumption will remain constant, particularly in the line of frozen pelagic fish, with a weakening trend in the canned fish market, Aqua reports.
Meanwhile, the subsidiary Salmones Humboldt SA informed that it did not have biomass in the sea in the year through 30 September.
At present, its recirculation farming centre is geared towards the sale of smolts while its processing plant renders services to third parties.
The company suffered severe economic losses in 2008 as a result of damages and the outbreak of the infectious salmon anaemia (ISA) virus, which struck several domestic farming centres.
“The company is following the industry’s process of reconversion, the introduction of vaccines, normative changes, and the evolution of the markets in making re-entry decisions, when it is estimated that risks are limited,” company sources indicated.
This year, the operating capital of Salmones Humboldt SA is mainly associated with the sale of finished products, farmed smolts, and with the services offered in its processing plant.
Related article:
- Pesquera Coloso snaps back
By Analia Murias
editorial@fis.com
www.fis.com
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