Exalmar’s financial statements to 30 September 2015 show a drop in revenue and profits, which reflects the effect of a zero quota in the 2014 second season and delays in sales as a result of market conditions.

In the first three quarters of this year, Exalmar had an operating profit of USD 10.9 million, a decrease of 71 per cent over the same period last year, with an operating margin of 8 per cent (20 per cent up to 30 September, 2014) .This was due to the suspension of the 2014 second season, which brought about a decline in sales (- 28 per cent), and higher ban costs (39 per cent).

Net income was USD -2.1 million, a level that is lower than 111 per cent from the same period last year (USD 19.8 million).

Cumulative fish oil sales to 30 September totalled 9,500 tonnes, leaving a final inventory of 1,000 tonnes.

Exalmar sold 71 per cent of its fishmeal volume available and 90 per cent of its oil volume. In the same period last year it sold 81 per cent of the fishmeal volume and 90 per cent of the oil volume.

Source FIS.com. Read the full article here.