Russia's main seafood-related companies significantly improved their financial performance last year, according the federal statistics service Rosstat, mainly boosted by higher prices in the domestic market.
Overall net financial results jumped more than 350 percent for the first 11 months of 2015, amounting to RUB 58.6 billion (€742.7 million/$825 million).
Profits increased by 2.7 times to RUB 60.2 billion (€763.9 million/$847.8 million), with the share of profitable seafood companies at 84 percent, compared with 77.7 percent in 2014.
A reduction in raw material costs and a spike in the domestic fish prices primarily caused by the devaluation of the Russian ruble were the main reasons for the improved performance, industry watchers suggested.
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