Pacific Andes posts 0.8% rise in full-year earnings to $99m

Pacific Andes Resources Development, the global frozen fish supplier with an integrated supply chain, says achieved a net profit attributable to owners of the company of HK$627.7 million ($99 million) for the full year ended 28 September 2012 (FY2012) despite a slight reduction in revenue.

Full-year group revenue decreased by 1.4% to HK$9,580.8 million due primarily to a drop in revenue from the Fishery and Fish Supply Division.

 

Revenue from the Frozen Fish Division, which accounted for 50.8% of total revenue, was up by 11.5% from HK$4,369.4 million to HK$4,869.6 million, due mainly to higher sales volume.

 

Revenue from the Fishery and Fish Supply Division, which accounted for 49.2% of total revenue, dropped by 11.9% from HK$5,346.5 million to HK$4,711.2 million.