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Following a period of strong growth for Sapmer, boosts in revenue have steadied in this year’s first half after the Japanese Yen has suffered devaluation. While revenue saw a modest increase of six percent to USD 73.9 million, profit earnings before interest tax fell 17 percent in the first half of this year.
Operating income for the company amounted to USD 13.2 million for the first six months of the year, a 13 percent fall from the same period of 2012.
Fishing activity represented a whole 89 percent of total revenues of the period, which from HY1 2012 resulted in a 17 percent rise. The boost in this area was mainly due to an increase in whole tuna sales. Operating income from fishing activity which included southern seas fishing and whole tuna totaled USD 11.6 million.
Yannick Lauri, CEO for Sapmer said: “Our results for the period, despite the good performance of our other activities, were impacted by unamortized structural costs in out value enhancing activity. Our sales efforts are continuing in order to expand our international client base. The premium positioning of our products allows us to enter the European and American tuna steaks market.”

Yannick Lauri, CEO Sapmer

But value enhancing activity revenue for Sapmer recorded a decline in its revenues to USD 8.4 million, accounted for by the situation in the Japanese market at that time.
The company invested heavily in a second value enhancing unit in the first half of the year. The plant in Mauritius has been in operation since June 2013 and has the capacity to process 21,000 tons of tuna per year.
With a second production facility now in operation, Sapmer has a processing capacity of 30,000 metric tons per year in total and a storage capacity of 6,100 tons in Mauritius at -40 degrees Celsius. This could have a positive impact on the company for the second half of 2013.