Ocean Trawlers Europe -- the UK-based division of the Hong Kong-based Ocean Trawlers Group – saw its earnings slide 47 percent in 2015 as lower volumes took their toll on the group.
Operating profit plummeted nearly 47 percent from nearly $9 million (€8.1 million) in 2014 to $4.8 million (€4.3 million) in 2015, while turnover slid 8 percent in 2015 to $352 million (€315.6 million).
The company, whose ultimate parent is Russia’s Karat Fisheries Group and specializes in frozen at sea (FAS) fillets and frozen whitefish products, said the decrease can be attributed to an 11 percent decline in volume.
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