Further to its two recent acquisitions combined with strong underlying organic growth, Iceland Seafood International increased (ISI) updated its estimate for the 2018 financial year.
The company raised expectations for normalized profits before tax around 11 percent to sit between €6.8 million ($7.7 million) and €7.3 million ($8.3 million), compared to August's estimate of between €6.1 million ($6.9 million) and €6.6 million ($7.5 million).
The increase is a result of stronger than budgeted performance and higher than expected profits within the value added division which includes the incorporation of Oceanpath in Ireland from mid-March 2018 and Icelandic Iberica in Spain from mid-September 2018.
