High Liner Foods Acquisition and Financial History
Q3 2023 YTD Sales Volume and Net Sales
Sales lbs (millions)
$800.0
300.0
$700.0
$600.0
$500.0
197.4
200.0
$400.0
192.5
$819.4
$843.2
$300.0
100.0
$200.0
Sales volume increased $4.9M lbs (3%) to 197.4M lbs
"
Foodservice: sales volume higher due to increased contract
manufacturing business, increased sales in newer product lines,
new business, and improved customer service levels. The Company
achieved strong service levels during the first three quarters of
2023, as compared to the first three quarters of 2022 due to
increased investment in working capital in the latter part of Fiscal
2022 to mitigate the global supply chain challenges.
Retail: sales volume decreased primarily due to consumers
becoming more price-conscious, resulting in softer demand for
protein, including seafood product as consumers switch to lower
cost alternatives.
Net sales increased $23.8M (2.9%) to $843.2M
Higher sales volumes as discussed above and pricing actions
implemented during Fiscal 2022 and the first quarter of 2023 to
mitigate inflationary increases on input costs.
Partially offset by changes in sales mix and the weaker Canadian
dollar in the first three quarters of 2023 which decreased the value
of reported USD sales from our Canadian operations in 2023 by
approximately $9.1 million relative to the conversion impact last
year.
Sales (millions)
$900.0
$100.0
0.0
2022
2023
Sales (USD)
Sales lbsView entire presentation