BEIJING: Mainboard-listed China Fishery Group announced on Monday that its net profit for the second quarter ended March 28, 2015, fell 75.5 per cent to US$4.3 million from the same period last year, due to the Peruvian government’s closure of fishing in the North Centre Anchovy fishery last year.
Because of that and the temporary warming of the water last year, there was “virtually no production of fishmeal or fish oil” in the six months leading up to 28 March this year, the company said.
As a result, group revenue fell 57.4 per cent to US$76.7 million.
Revenue from the China Fishery Fleet rose 36.2 per cent to US$22.3 million due to higher sales volume and selling prices as well as lower fuel costs and exchange gain, contributing 12.9 per cent of total revenue.
