China Fishery Fleet operating on Namibian waters has contributed 11 percent revenue to the holding company, China Fishery Group in the last financial year.


The group that listed on the Mainboard of Singapore Exchange in 2006 is a global integrated industrial fishing company with access to fish in some of the world’s most important fishing grounds, including the Anchovy fishery in Peru.
One of the world’s leading producers of fishmeal and fish oil through its processing plants located strategically along Peru’s coastal areas, the group sources, harvests, onboard-processes and delivers high quality catch to consumers the world over.
The group acquired horse mackerel quotas in Namibia in 2012.
Latest figures released by the Group for the last quarter show that revenue from the China Fleet Namibia operations accounted for 11.1 percent of total revenue and increased by 36.2 percent 264 million Namibian dollars (22.3 million U.S dollars) year-on-year.
Its revenue for the second quarter accounted for 12.9 percent of total revenue, up 155.4 percent to 12 million Namibian dollars (1 million U.S dollars), that was attributable to higher sales volume in Namibia.
Ng Joo Siang, the group managing director, said this was due to lower fuel costs and the depreciation of the Namibian dollar against the U.S dollar.
“Following the full utilization of our quota in 2014, we saw a strong start in the 2015 fishing season with Horse Mackerel in abundance, delivering higher catch volumes compared to the same time last year,” he said. Enditem

Source: Xinhua


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