Pacific Andes International, a frozen fish and fish fillet supplier, said full-year profit rose 12 per cent, helped by additional income from buying a fishery firm.
Profit for the year to March rose to $183.1 million from $163.2 million in the previous period and turnover gained 16.2 per cent to $6.16 billion from $5.3 billion. The final dividend will be 5.2 cents.
Earnings growth was partly boosted by the company's expansion in the upstream business after buying a 49 per cent stake in China Fishery in August 2004.
China Fishery, in which Pacific Andes now owns a 31 per cent stake after it was spun off, contributed $620.2 million in sales and $55.9 million in profit to Pacific Andes.
The unit was listed in Singapore in January, yielding a one-off gain of $81 million for Pacific Andes.
Pacific Andes said its business will expand further following the US$100 million purchase of three fishing firms in Peru by China Fishery last month.
