Fandicosta, one of Spain’s largest seafood processors, increased its revenue by 14% last year, to €101 million.
The company did however warn interested parties about interpreting increases in sales volumes as a sign that the country’s economy is recovering.
Because of the economic stress Spain is suffering, revenue levels could only be maintained by increasing production, said the processor.
Sales at the company have increased steadily for the past four years, profits have only increased by €200,000 to €0.6 million since 2010, the company revealed.
Fandicosta said the industry is feeling the pinch of the risk over deflation or general drop of prices.
“At least in our case, the year started on a positive note and sales are going well. But the problem is that consumer prices are still falling so we are selling more for less money,” Lorenzo Fernandez, commercial manager at Fandicosta, told industry publication Undercurrent News.
© 2014 - European Supermarket Magazine by Enda Dowling
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