The company also highlighted the good fishing season for jack mackerel during the semester that, combined with the drop in fuel prices, led to an important reduction in fishing and processing costs.

On Monday, September 5th, the Financial Market Authority (SVS) published on its website the financial results of Blumar Seafoods, which details that the consolidated operational revenues of the aquaculture-fishing company totaled US$197.9 million during the first half, representing a 17% increase compared to the same period in 2015.

This is explained, according to what the company emphasized, mainly by higher sales in the aquaculture segment of 37%, resulting from sustained price increases since January 2016 as a consequence of an adjustment in salmon supply at the global level and mainly from Chile. On the other hand, the fishing segment reported lower sales of 7% compared to the same semester of the previous year, due to lower volumes sold of fish meal and a sharp adjustment in the selling prices of fish meal and frozen jack mackerel of over 20%.

Blumar stated that “it is worth highlighting the good fishing season for jack mackerel during the semester that, combined with the drop in fuel prices, led to an important reduction in fishing and processing costs”.

The EBITDA pre fair value adjustment for the first half of 2016 was US$16.2 million, a figure US$10.9 million lower than that obtained in the same period of 2015. “The company presented in the first half of this year a net profit of US$13.5 million, which represents a 112% increase when compared to the same period of 2015, largely influenced by the adjustment of biological assets at fair value that resulted in a gain of US$14.5 million during the first half of 2016 and compared to a loss of US$3.9 million in the same semester of the previous year, which is due to the increase in Atlantic salmon selling prices”, summarized Blumar Seafoods.