Asia has surpassed Europe as Clearwater Seafoods’ largest regional market, according to a Canadian analyst.
In its report on the 2012 period for the fishing and processing company, Beacon Securities found that Clearwater Asian sales have more than doubled since 2008, going from $58.8 million to $123.7 million.
Sales in 2012 grew by 19.2% in Asia, led by 29.4% growth in China, up 51.5% in Q4 alone
Meanwhile, European sales fell 3% and US sales were down 2.3%. The Canadian sales figures grew 7.3% in 2012.
The Canadian firm reported sales of $350.4 million and adjusted EBITDA of $72.2m, both record figures, in figures announced last week.
Results continue to be driven by strong demand for key species such as sea scallops, coldwater shrimp and clams, and subsequent strong selling prices, according to Beacon.
This helped offset lower demand and pricing for Argentine scallops and lower lobster volumes. A key market for Argentine scallops is Europe, and France in particular, which has seen demand fall on economic concerns, said Beacon.
There are early signs of improvement in this market for 2013 though, where scallop sales were down 5% year-over-year in 2012 and lobster sales were down 4%, but this was offset by shrimp sales up 25%, clam sales up 16.5%, and crab sales up 13%.
Source: Adam Baker
Sea Fare Expositions
5350 30th Ave NW Suite D
Seattle, WA 98107-5813
Phone: 206.789.5741 ext. 334
Sea Fare (China) Ltd.
16 F/A No. 58 Freetown Center
South Road Dongsanhuan
Beijing 100022 P.R. China
Phone: +86 10 58672620
Fax: +86 10 58672600