Canadian frozen seafood giant High Liner posted a 16 percent increase in third quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to $16.5 million (€14.9 million).
This came despite a near 9 percent fall in revenue to $220.1 million (€199.2 million), as sales volumes declined 6 percent to 60.2 million pounds compared with the same period a year earlier.
The company is now in the second year of its business turnaround plan.
"With fewer SKUs and more emphasis on value-added products we are driving efficiency, increasing margins and delivering innovative and high-quality seafood to our customers," High Liner CEO Rod Hepponstall said.
"We are moving closer to a more optimal portfolio mix. I am confident that High Liner Foods is well positioned to continue to grow Adjusted EBITDA and seize new opportunities for profitable organic growth."