May 18, 2021 — Lunenburg, Nova Scotia, Canada-based High Liner Foods reported weaker sales and profits in the first quarter of 2021, while acknowledging “global supply challenges.”
The value-added seafood company recorded USD 243.4 million (EUR 199 million) in sales in Q1 2021, down USD 25.2 million (EUR 20.6 million) from Q1 2020. By volume, the company’s sales decreased by 7.5 million pounds to 69.8 million pounds. Its gross profit shrunk by USD 1.1 million (EUR 900,000) to USD 57.7 million (EUR 47.2 million) and its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) declined by USD 2.9 million (EUR 2.4 million) to USD 27.8 million (EUR 22.7 million).