Canned seafood of Austral Group. (Photo: Austral)

Lower sales reduce Austral Group profits in first quarter

Austral Group obtained a net profit of PEN 3.3 million (USD 1 million) in the first quarter of this year, well below the PEN 16.6 million (USD 5 million) reported in the first three months of 2017. This fall was attributed basically to lower production and sales volumes.

The company reported the sale of 6,454 metric tons (MT) of fishmeal and 1,950 MT of fish oil in the first quarter of this year, compared to 30,274 MT and 2,189 MT in the same period of 2017, respectively.

Meanwhile, sales of fresh fish for indirect human consumption totalled 2,254 MT, compared to 1,662 MT sold in the first quarter of 2017.

The gross profit of the fishmeal and fish oil business decreased from PEN 43.3 million (USD 13.2 million) to PEN 27.0 million (USD 8.2 million) in the first three months of this year, compared to the same period of the previous year, due to lower sales volume.

The average price of fishmeal reflected in the company's sales for the first quarter of 2018 was USD 1,359 per MT, 6 per cent lower than the corresponding period last year.

In contrast, the average price of fish oil amounted to USD 2,797 per MT, 78 per cent higher than in the first quarter of 2017.

With respect to the Direct Human Consumption activity, the production of frozen products as of March 31, 2018 was 3,284 MT (7,613 MT during the first quarter of 2017). Total sales of frozen products reached USD 57,000, compared to USD 1.9 million in the same period of 2017.

In the first three months of 2018 there were no local sales of frozen products, but only exports, while in the first quarter of 2017 local sales accounted for 21 per cent of the total.

Sales of fresh fish for direct human consumption totalled 1,038 MT, below the 1,623 MT sold as of March 31, 2017, but its value grew 42 per cent to USD 362,000.

As of March 31, 2018, the direct human consumption business generated a gross loss of PEN 2.29 million (USD 696,000), compared to a profit of PEN 521,000 (USD 158,400) in the same period of the previous year, as a result of a lower catch, production and sale of frozen mackerel.

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Address:	Av. Victor Andres Belaunde 147, Edificio Real 7, San Isidro
City:	Lima
State/ZIP:	(27)
Country:	Peru
Phone:	+51 1 710 7000
Fax:	+51 1 442 1660
E-Mail:	[email protected]
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