Pacific Andes International Holdings saw its margins drop in the first half of 2012 despite a 27 percent increase in revenues.
The Hong Kong-listed company -- parent to China Fishery and Pacific Andes Resources Development -- said higher costs and smaller onboard processing earnings hit its margins in the first six months of 2012.
The group's profit margin fell from 19.5 percent to 17.7 percent in the period, despite revenues rising 27 percent to HKD 8,401 million (€853.7 million/$1.1 billion).
Pacific Andes said the economic crisis has made importers, processors and retailers in large importing markets more cautious and less willing to commit to longer-term contracts.
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