Pacific Andes’ main subsidiaries reported an unaudited combined loss before taxes of $31 million (€28.3 million) in the year ended Sept. 28, 2016, compared with a loss of $197 million (€180.1 million) reported a year earlier.
The company said the improvement is due to the fact that the significant loss of the year prior included the provision of loans and trade receivables in relation to Pickenpack, and changes in value in derivative financial instruments of $137 million (€125.2 million).
The combined turnover of the group’s major subsidiaries in the processing and distribution division was $314 million (€287 million), representing a fall of 39 percent compared with the same period a year earlier, when it reported sales of $516 million (€471.7
