Canadian frozen food giant High Liner said Wednesday the shipping and logistics crisis took a toll on its growth, resulting in an estimated 4 million pounds of lost sales in the third quarter.
While third quarter revenue rose 10 percent to $214.3 million (€189.3 million), High Liner CFO Paul Jewer said on the company's third-quarter conference call that the majority of the increase was the result of inflation as the rise in shipping costs and subsequent disruptions forced the group to pass along higher prices to customers.
