Halifax-based Clearwater Seafoods posted “record” first quarter sales and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of CAD 116.2 million (€79.4 million/$89.8 million) and CAD 18.9 million (€12.9 million/$14.6 million), up from CAD 75.4 million (€51.5 million/$58.3 million) and CAD 9.7 million (€6.6 million/$7.5 million) respectively in the first quarter of 2016.
This represents growth rates of 54 percent and 94 percent respectively, the company said.
The growth in sales revenues and adjusted EBITDA were due to higher volumes, higher prices and higher average exchange rates as well as the positive results from Macduff Shellfish, which posted sales of CAD 25.8
