Record Year for Lunenburg's High Liner Foods

A record year of sales and profit for High Liner Foods. The Lunenburg based company reports overall sales increased by 14.3 percent to $668.6 million up from $584.7 million in 2010. It's EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by an impressive 15.9 percent to $54.7 million up from $47.2 million. High Liner Foods banner year was helped by the acquistions of Viking Seafoods Inc and Icelandic Group's US and Asian Operations. The US$232.7 million dollar Icelandic deal was completed in December making High Liner Foods the leading value-added seafood supplier in North America. CEO Henry Demone says the companies US operations grew in both food service and retail but sales volumes in Canada were unchanged due to a challenging retail market. However, the company did report a 4.1 percent increase in Canaidian sales.