10th Sep 2015 07:54
LONDON (Alliance News) - Aquatic Foods Group PLC Thursday reported a rise in pretax profit in the first half of 2015, boosted by strong sales of fish, and declared its maiden interim dividend.
The Chinese marine foods and seafood processor and producer said that pretax profit in the six months ended June 30 grew by more than a quarter to CNY102 million from CNY79 million, while revenue also rose by more than a quarter to CNY444 million from CNY353 million.
Aquatic Foods said that the increase in revenue was mainly driven by sales of fish including mackerel and saury, as consumers continue to demand convenient and healthier food options.
Aquatic Foods said it will pay a maiden interim dividend of 0.7 pence.
"The company's current extensive distribution network has put us in a very strong trading position and the board is confident that despite current slowdown of the Chinese economy, the group will continue to adapt and to expand its share in what is still a growing Chinese seafood and marine food market. The group also remains committed in growing export sales and is confident that Aquatic Foods will continue to leverage on its established position in the overseas market to further benefit from the high growth potential of the international seafood market," Chief Executive Li Xianzhi said in a statement.
Shares in Aquatic Foods were trading up 3.8% at 30.10 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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