Danish aquaculture feed giant BioMar managed a significant increase in quarterly profit despite a decline in sales over the last three months of 2023. The strong performance of its salmon division and robust contracts with the shrimp sector in Ecuador drove the quarterly performance.
The company said on Friday it had prioritized long-term collaboration with its core customers, rather than chasing volumes, which had resulted in flatlining sales over the course of the full year.
"To us, it is becoming increasingly important to create partnerships with suppliers of novel raw materials,” said BioMar CEO Carlos Diaz, “as well as forward-looking customers who believe in building long-term business relationships instead of a transactional value chain.”
