Blue Island Plc Announces Unaudited Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fiscal 2014
October 31, 2014 at 07:05 pm
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Blue Island Plc announced unaudited interim management statement for the third quarter and nine months ended September 30, 2014. Total consolidated sales during the period above were 4,061,867 compared to 3,461,858 during the respective 2013 period with an increase of 17.3%.
The total consolidated sales for the period nine months of 2014 were 11,727,728 compared to 10,684,247 during the respective 2013 period with an increase 9.8%. The investment spenditure program for the first nine months of 2014 was 309,442 against 198,239 a year ago. Most of the investments in 2014 were done in the fish farming, processing and sales sectors of the company.
Profitability of the company for the whole 2014, is anticipated to be positive.
Blue Island Plc is a Cyprus-based company engaged in the breeding and trading of fish. Its activities include fry breeding, through its subsidiary, Blue Fisheries Ltd; Mediterranean type fish-farming; tuna and swordfish fishing, through its subsidiary, Niras Trawlers Ltd; fish processing, namely fish fillets, fish burgers, smoked fish and marinated fish, and trade of products, which are either produced by the Company or which are imported and is done both through the Companyâs retail shops, as well as through wholesale distribution. The Company has three production facilities: the Hatchery Unit, which specializes in fry breeding and is located in the Akrotiri area in Limassol; the Open-Sea Fish Farming Unit, which specializes in fish breeding in open sea cages and is located at the Governors coastal area in Limassol, and the Fish Processing Unit, which processes, packages and distributes both fresh and frozen fish and is located in Strovolos, Nicosia.
Blue Island Plc Announces Unaudited Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fiscal 2014