Despite its accounts in the red, Pescanova highlights there have been improvements over the last 2 fiscal years. (Photo: HombreDOjalata/FIS)
Pescanova loses EUR 17 million in the first quarter
(SPAIN, 6/6/2014)
The Galician multinational firm Pescanova informed the National Securities Market Commission (CNMV) that between January and March 2014 it recorded a loss of EUR 16.93 million.
According to the fishing firm, "the extraordinary circumstances" in which it is do not make it possible to accurately determine the results obtained during the first quarter of 2013 so that they become comparable with those from the same period of 2014, RTVE informed.
In the first three months of this year, Pescanova sales declined 26 per cent year-on-year, to EUR 206.08 million.
The lower turnover for the first quarter is due in part to the non-inclusion of sales of Pesca Chile, subsidiary that once managed to provide 30 per cent of the EBITDA of the group and is now bankrupt and out of control, reported Atlantico.
The operating profit of the company was negative EUR 4.9 million, given "the absence of extraordinary results for the first four-month period of 2014," pointed out Pescanova.
Anyway, the multinational firm noted that this result represents "a clear improvement over that obtained in the previous two fiscal years."
On 23 May, the Commercial Court number 1 of Pontevedra approved Pescanova’s agreement and the exit of creditors’ meeting took place.
A day earlier, the board of directors of the company had accepted the resignation of Juan Manuel Urgoiti as director and president, after creditor banks took control.
Pescanova revealed last month that its 2013 accounts closed in the red with figures that exceeded EUR 715 million.
Related article:
- Pescanova counselor resigns
By Analia Murias
editorial@seafood.media
www.seafood.media
Information of the company:
Address:
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Calle José Fernández López, s/n
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City:
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Chapela - Redondela
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State/ZIP:
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Pontevedra, Galicia (36320)
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Country:
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Spain
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Phone:
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+34 986 818 100
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Fax:
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+34 986 818 220
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E-Mail:
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info@pescanova.es
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More about:
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Approval / Accreditation / Certified / Oversight by...
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