Multiexport reports best results in two years
According to the company, their net income in 1Q 2010 was USD 93,000 which compares favorably to the USD -21.0 million losses from the same period in 2009, being the first quarter after two years in which losses are not recorded.
Multiexport’s sales of salmon and trout totalized 8,603 tonnes of raw material (WFE) in 1Q 2010, which represents a 15.8% decrease compared to the same period in 2009, when sales were 10,214 tonnes. However, the 1Q production was 11,039 tons (WFE), representing a 17.8% increase versus the same period in 2009. This declined sales and increased harvests in 1Q 2010 are explained by the high amount of raw material from 2008 sold in early 2009.
Finally, and as the company noted in its previous quarter's report, from April 2009 on, Multiexport Foods has obtained very good productive results. Their inventories of Atlantic salmon have improved both in harvesting average weights and in costs. This improvement in the tendency experienced by the company in the last few months can be appreciated in the positive EBITDA of the quarter.
