Icelandic fishing and processing firm Samherji reported a profitable 2017, citing good return across its Icelandic operations as well as its subsidiaries.

The group reported earnings before interest, taxes, depreciation and amortization (EBITDA) of ISK 13 billion (€104.3 million/$120.9 million), a 20 percent drop from the previous year when it reported ISK 16.8 billion (€126.1 million/$146.2 million).

Net profit however, increased 7.5 percent from ISK 13.4 billion (€107 million/$124 million) to ISK 14.3 billion (€115 million/$133 million) year-on-year.

Group turnover dropped 3.5