20th Jul 2015 07:40
LONDON (Alliance News) - Aquatic Foods Group PLC Monday said trading in the first five months of 2015 continued in line with expectations as the company reported a 26% lift in revenue.
The Chinese marine foods and seafood processor and producer said revenue in the five month period ended May 31 totalled CNY369 million, compared to CNY292 million a year earlier. The company said the rise was a result of increased sales of fish, including mackerel sourced from Iceland, Ireland, Scotland and Norway, and of saury, a fish used for bait.
The company said its expectations for the full year remains unchanged.
Aquatic Foods is also continuing discussions about increasing its processing and cold storage capacity and will update the market "in due course".
Aquatic Foods will hold its annual general meeting later Monday.
In a separate statement on Monday, the company also said Deputy Chairman John McLean has resigned from his role with immediate effect. Aquatic Foods said it has started a search for a replacement.
Shares in Aquatic Foods were up 8% to 27.00 pence in early trade on Monday, one of the best performers in the London Main Market.
By Joshua Warner; [email protected]; @JoshAlliance. Additional reporting by Sam Unsted; [email protected]: @SamUAtAlliance
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