Finance

See all articles

Nireus continues to narrow losses, improve sales

Results follow trend reported in first half.

Greek sea bass and sea bream farmer Nireus on Wednesday reported a sharp reduction in net losses through the first nine months of the year, according to Reuters.

The group reported a net loss of €1.6 million ($1.7 million), less than half of losses reported during the same period last year.

Sales, meanwhile, were up more than 6 percent to €149.9 million ($158.9 million) from the first nine months of 2015.

Earnings before interest, taxation, depreciation and amortization (EBITDA) were at €15.6 million ($16.6 million), up 16 percent from the year prior.

The results come on earnings improvements in the first half of the year.

---

For more seafood news and updates, follow us on Facebook and Twitter or sign up for our daily newsletter.