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Pacific Andes posts HK$593.6-mln profit for H1 FY 2012

May. 25, 2012 (China Knowledge) - Pacific Andes International Holdings Ltd<1174>, an integrated seafood company that listed on the Hong Kong Stock Exchange in 1994, has announced that its profit climbed 1.0% YoY to HK$593.6 million in the six months ended Mar. 28, 2012.

Excluding revaluation gains on investment properties, the firm's core profit grew 12.6% YoY to HK$597 million. Basic earnings per share were 5.8 HK cents.

The seafood company saw its gross profit increase by 14.9% YoY to HK$1.48 billon in the first half.

The group's total revenue jumped 27.2% HK$8.40 billion in the period. Revenue from fishery and fish supply division increased 15.1% to HK$2.70 billion, accounting for 32.1% of total revenue. The frozen fish SCM division generated revenue of HK$3.08 billion, reflecting a robust growth of 55.1% YoY, due to higher sales in China.

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