Earnings double for ISI, as it restructures US operations

Iceland Seafood International (ISI) more than doubled its net profit for the first half of the year as COVID-19 restrictions in Europe started to ease, but warned of uncertain times ahead.

The group’s net profit for the first six months of the year amounted to €3.4 million ($4 million) compared with €1.3 million ($1.5 million) in the same period a year ago, while group sales also climbed 15 percent to €208.3 million ($244.9 million).

After a slow start in the first two months of the year, ISI said sales picked up strongly from March in southern Europe in particular, following the easing of COVID-19 restrictions in Spain and Italy.