The second quarter earnings for North American frozen seafood company High Liner Foods were far lower than expected, and the 40 percent year-on-year rise in haddock costs was one undeniable factor.
Henry Demone, the company's CEO, told reporters and investors during the quarterly earnings call the massive spike in price couldn't fully be passed on to customers and has led to conversations about potential alternatives.
"We did successfully increase prices [on haddock products] at the end of the second quarter but not all of it," he said.
