High Liner Foods Reports Revenue Surge, Less Profit

The acquisition of Icelandic USA has resulted in less profit for High Liner Foods in its second quarter financial outlook. The Lunenburg-based company says its net income fell to $995,000, down from $4.8-million a year earlier. Despite the decrease in profit, revenue rose over $65-million in the second quarter to $219-million. President and CEO, Henry Demone, says he's pleased with the results.



Demone says new product helped contribute to increased sales in Canada.



The $230.6-million U.S. purchase of Icelandic was announced last November and closed in December.