Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Haikui Seafood products. (Photo Credit: Haikui)

Haikui Seafood's profits fell due to 'challenging conditions'

Click on the flag for more information about Germany GERMANY
Monday, November 24, 2014, 03:10 (GMT + 9)

Seafood processing company Haikui Seafood registered revenue of EUR 87.4 million in the 2014 January-September results in comparison to EUR 100.3 million in the same period last year. The firm considered this 12.8 per cent decline was due to the keen competition and headwinds in the global economy.

“The difficult business landscape and keen competition resulted in fewer quantities of goods sold in the third quarter, causing our Q3 2014 revenue to decline by 6.4 per cent year-on-year,” pointed out the firm’s CEO Zhenkui CHEN.

Despite the challenging environment, the company expressed “cautious optimism” about its fourth quarter results, since it has succeeded in narrowing the gap in its year-to-date revenue decline to 12.8 per cent versus 15.7 per cent in half-year.

The firm’s main contributor was its frozen product segment with revenues of EUR 69.5 million in the first 9 months this year versus EUR 82.6 million in 2013, accounting for 79.5 per cent of total revenue.

The company revealed a slight growth in the canned product segment, which achieved revenues of EUR 17.9 million (EUR 17.7 million in 2013), mainly thanks to higher sales of canned abalone.

In the nine month period ended in September, lower revenue and higher production costs caused gross profit to drop by 26.3 per cent to EUR 13.8 million. Accordingly, EBIT went down by 31.7 per cent to EUR 10.0 million in comparison to EUR 14.6 million in the nine month period last year.

Despite all the difficulties, the firm announced it continues to pursue its long-term expansion plans, such as the construction of the new factory in Dongshan Island.

Haikui Seafood highlights the relocation agreement signed in October is a very positive development for Haikui Seafood as it not only allows the company to build a highly efficient seafood processing plant with modern and faster equipment at attractive terms but it also puts the company in an excellent position.

Haikui Seafood expects a strong business development in the fourth quarter of 2014 and maintains its guidance for the full-year 2014.

The firm’s products are made from a broad range of raw seafood, including prawn and crab and various types of fish and other species such as abalone, shellfish and cephalopod.
 


editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
South Africa
Nov 24, 01:30 (GMT + 9):
New shrimp species discovered in South African waters
Argentina
Nov 24, 00:20 (GMT + 9):
Marine protected area bill granted preliminary approval
New Zealand
Nov 22, 00:50 (GMT + 9):
IN BRIEF - Aquaculture delivers in tough fishing year
United Kingdom
Nov 22, 00:50 (GMT + 9):
IN BRIEF - Seafish Scottish Premiere of ‘The Business of Processing’ Film
United States
Nov 22, 00:50 (GMT + 9):
IN BRIEF - Cod rules could trap lobstermen
Canada
Nov 22, 00:50 (GMT + 9):
IN BRIEF - Lobster fishery predictions suggest lower quality 2014
Canada
Nov 22, 00:40 (GMT + 9):
IN BRIEF - P.E.I. farmer fined for pesticide runoff that killed thousands of fish
Canada
Nov 22, 00:40 (GMT + 9):
IN BRIEF - Aquaculture research proposed for abandoned fish plant
New Zealand
Nov 22, 00:40 (GMT + 9):
IN BRIEF - International Maritime Institute of NZ launched at NMIT
Iceland
Nov 22, 00:30 (GMT + 9):
IN BRIEF - Shetland fishermen want to scrap Faroese mackerel deal
United States
Nov 22, 00:30 (GMT + 9):
IN BRIEF - 'Excellent' 2015 pink salmon harvest predicted
United States
Nov 22, 00:20 (GMT + 9):
IN BRIEF - Shrimping ban has midcoast suppliers worried about fishery’s future
India
Nov 22, 00:20 (GMT + 9):
IN BRIEF - Over 240 shrimp farms near Surat airport to be removed
Brazil
Nov 21, 23:50 (GMT + 9):
Tuna load confiscated over banned gear issue



Lenguaje
FEATURED EVENTS
  
TOP STORIES
New shrimp species discovered in South African waters
South Africa Researchers from the University of Cape Town have identified a tiny shrimp specimen with banded, stalked eyes, and gaudy red 'warning' colouring in South African waters.
Horse mackerel fishing right case postponed
Namibia The case between several firms holding horse mackerel fishing rights and the minister of fisheries and marine resources has been postponed to February next year by a judge after hearing oral arguments.
WTO issues final ruling on shrimp anti-dumping measures
Viet Nam The World Trade Organisation has announced a panel belonging to this entity's final decision on Vietnam’s lawsuit against the US imposition of anti-dumping tax on certain warm-water frozen shrimp.
Spain and Guinea-Bissau extend fisheries-aquaculture cooperation memorandum
Spain The Governments of Spain and Guinea-Bissau signed an extension of the Memorandum of Understanding between the two countries to enhance the cooperation in fisheries and aquiculture issues.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel ehf - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Grupo Calvo - Luis Calvo Sanz, S.A. (Group Headquarter)
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2014 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER