Canada's High Liner Foods posted a 33 percent first-quarter increase in adjusted earnings before taxes, interest, depreciation, and amortization (EBITDA) on Tuesday.
EBITDA for the quarter ended March 30 came in at $32.2 million (€28.7 million), up from $24.2 million (€21.6 million) a year earlier.
This came despite a 13 percent decline in sales to $277.4 million ($247.5) from $319.1 million ($284.7 million).
High Liner executives said they expect net debt to rolling 12-month adjusted EBITDA will continue to improve throughout 2019 due in part to the reduction of the dividend rate on the company's common shares, improved cash flow management and the speeding up of a cost-saving initiative.
