ATHENS: Greek firm Nireus Aquaculture plans to increase its market share in the US in 2017, as well as its sales in Europe, a company’s spokesman told Undercurrent News.
The firm will also increase its value added-products offering, which is a new market for the company, he said. Moreover, it will focus on increasing its profitability, with further cost cutting measures, a the spokesman told Undercurrent.
“Our company has commenced the implementation of its strategic planning for the purpose of penetrating into new markets, as well as the development of new innovative products,” Nireus’ CEO Antonis Chachlakis, said in the company’s results published on Thursday.
Nireus produces seabream and seabass, as well as juveniles, fish feed and fish farming equipment, both for its own use and for trading purposes to customers in Greece and abroad.
It currently sells its products to 35 countries. Almost 40% of the firm’s sales are concentrated in six European countries. Nireus plans to grow even further in Europe, particularly in Italy, France, Germany and UK.
The firm’s sales rose to €149.9 million in the first nine months of the year, up 7% year-on-year. Actions to reduce production costs and improvement to the company’s total performance offset the pressure placed by bream prices, the company said.
In the third quarter, Nireus continued to reduce losses. The firm’s pre tax loss dropped to €3.9m in the first nine months of 2016, from €4.9m in the same period of 2015.
