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


Report by Clearwater Seafoods on its 2018 third quarter results.

Clearwater manages good Q3 with a slight sales increase

Click on the flag for more information about Canada CANADA
Thursday, November 08, 2018, 23:40 (GMT + 9)

Good price, higher frozen-at-sea shrimp landings and an increase in clam sales in China contributed for Clearwater Seafoods to record a slight improvement in profits in the third quarter.

Photo: Google finance Market Summary > Clearwater Seafoods Inc | TSE: CLR

 

The firm reported an adjusted EBITDA of CAD 80.3 million (USD 61.3 million) for the first nine months of the year, from CAD 80.1 million (USD 61.1 million) in the same period in 2017.

Photo: Clearwater Seafoods Q3 Report

 

For the third quarter, the adjusted EBITDA was CAD 30.7 million (USD 23.4 million) from CAD 32.8 million (USD 25 million) in the same period last year.

Photo: Clearwater Seafoods Q3 Report

As to sales, they grew by 0.4 per cent year on year in the third quarter, to CAD 164.2 million (USD 125.3 million) but they declined by 3.1 per cent in the first nine months, to CAD 446.3 million (USD 340.5 million).

Photo: Clearwater Seafoods Q3 Report

 

As a percentage of sales, the adjusted EBITDA represented 18.6 per cent versus 18.0 per cent in the first nine months of 2017, a result that, according to the company, reflects strong sales mix, cost efficiencies and favourable net foreign exchange.

Photo: Clearwater Seafoods Q3 Report

 

The company pointed out that strong prices and increased landings for frozen-at-sea (FAS) shrimp and favourable sales mix for clams in the January-October period were offset by lower available supply and competitive conditions for scallop associated with increased US supply as compared to the same period in 2017. 

The gross margin as sales percentage for the third quarter of 2018 improved to 20.3 per cent versus 17.0 per cent in the prior year. Gross margin as a percentage of sales  improved to 18.6 per cent versus 18.1 per cent in the prior year.

 

Photo: Clearwater Seafoods Q3 Report

Clearwater highlighted that during the analysed period, the Department of Fisheries and Oceans (DFO) announced their decision to cancel the process to issue a fourth clam licence and confirmed that the remaining 25 per cent of the clam quota would be issued to Clearwater for 2018 and 2019.

[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Indonesia
Nov 14, 03:00 (GMT + 9):
SFP, Conservation International, and UCSB release new best practices for aquaculture management guide
Viet Nam
Nov 14, 02:50 (GMT + 9):
Good prospects forecast for shrimp exports to the EU
Honduras
Nov 14, 02:40 (GMT + 9):
Mexico reopens its market to Honduran shrimp
Canada
Nov 14, 01:50 (GMT + 9):
Oceana accuses Govt of not meeting commitments to rebuild fisheries
Spain
Nov 14, 01:30 (GMT + 9):
Galicia opens spider crab and brown crab season in two provinces
United States
Nov 14, 00:30 (GMT + 9):
AquaBounty signs deal with R&D firm to produce sterile fish
Spain
Nov 13, 23:50 (GMT + 9):
Govt hopes quota reductions proposed by EC will be modified
Norway
Nov 13, 23:50 (GMT + 9):
Marine Harvest launches brand strategy and name change
Mexico
Nov 13, 23:10 (GMT + 9):
Sinaloa farmers receive USD 3.3 million in aid for shrimp larvae purchase
United Kingdom
Nov 13, 23:00 (GMT + 9):
Scottish Sea Farms to receive GBP 1.28m to support innovation projects
Argentina
Nov 13, 21:30 (GMT + 9):
First wreckfish spawning achieved in captivity
Kenya
Nov 13, 20:20 (GMT + 9):
IN BRIEF - Cage aquaculture offers fresh hope to marine fish farmers
Canada
Nov 13, 20:20 (GMT + 9):
IN BRIEF - Fish's brain size influenced by habitat
United States
Nov 13, 20:00 (GMT + 9):
IN BRIEF - U.S. Shrimp industry targets farm-raised imports during World Antibiotic Awareness Week
United States
Nov 13, 20:00 (GMT + 9):
IN BRIEF - Regulators to vote on keeping shrimp fishery shut



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Echebastar Indian Ocean purse seine skipjack fishery achieves MSC certification
United Kingdom The Echebastar Indian Ocean purse seine skipjack tuna fishery has achieved certification to the MSC Fisheries Standard.
Growing amount of infected herring landings seem worrying
Iceland A considerable amount of the herring catch landed in recent days was found to be infected and almost all of it will be incinerated.
Indonesian fishing vessel apprehended due to alleged illegal fishing activities
Australia An Indonesian fishing vessel and its crew of five men were apprehended off the coast of Western Australia, suspected of illegally fishing in Australian waters.
Piriou delivers new freezer longliner for toothfish capture
France Vietnamese shipyard Chantiers Piriou SARL has just delivered French fishing company Comata a new 62.8 m freezer longliner dedicated to toothfish fishing in the French southern seas.
 
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+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
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 - 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.
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-
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. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
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 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER