ATHENS: The possible merger of three seabass and seabream producers of Greece would create a consolidated turnover of near €430 million. The three companies’ fish sales amount to €317m, based on the 2014 financial update of Nireus, which saw losses cut to €15.5m, and Selonda, with earnings and equity back in the black.As Dias has remained under bankruptcy protection from September 2013, the company has not released results in the last two years.
Since 2013, the company has had highly limited operations, producing less than 5,000 metric tons last year according to an industry source, but in 2012 it reported a €99m turnover.Dias fish sales at the time totaled €55m and its equity was negative at €25.4m.
Greece’s largest bass and bream farmer Nireus’ revenue in 2014 was down by 1.7% year-on-year to €195.2m. The company attributed this to reduced feed sales, citing stricter credit controls adopted to mitigate the risk from the challenging domestic economic environment.
