Russia’s Far Eastern Nakhodka Active Marine Fishery Base (NBAMR), one of the country’s largest fishing companies, faced tough financial headwinds in 2017, with both sales and earnings declining.

The company’s net profit plummeted five-fold compared with 2016 to RUB 562 million (€7.4 million/$9.1 million), according its financial report.

NBAMR’s revenue dropped 16.2 percent to RUB 8.1 billion (€106.72 million/$131.24 million).

The cost of production decreased slightly and amounted to RUB 4.6 billion (€61.50 million/$75.65 million), while gross profit dove 31 percent to RUB 3.4 billion (€45.19 million/$55.59 million).

NBAMR is an integrated holding, comprising of several subsidiaries and separate structural divisions, involved in fishing, fish processing and trade and ship repairing.

The company operates 10 large-sized trawlers and one transport refrigerator, fishing pollock, squid, herring and other species in the Pacific Ocean, off the Kuril Island and the east coast of Japan.

The company primarily produces whole gutted fish, fillets, mince and roe.

How to build a frozen seafood empire

NBAMR is one of the few Russian fishing companies are able to produce single-frozen fish fillets, certified for export to the EU.

The holding is controlled by Sergey Darkin, the ex-governor of Primorye.

According to Forbes, NBAMR was the fifth-largest fishing quota holder in Russia in 2017, with total volumes amounting to 181,300 metric tons.

Pollock made up the bulk of the company's quota, amounting to 121,400 metric tons.