Profitability in Icelandic fishing and fish processing 2008

Statistics Iceland releases now a new issue of Statistical Series in the topical category of of fishing and fish processing. This issue presents the profit of the fisheries in 2008, reports www.megafishnet.com with reference to Statistics Iceland.

These statistics show the profits of the main sub-sectors of these activities such as boats in several size categories, pelagic boats, wet fish trawlers, freezing trawlers, processing of demersal species like freezing and salting, processing of capelin and fresh fish processing.

The net profit of fishing and processing of demersal species increased between 2007 and 2008 or from 13% to 24½% (according to the annuity approach and 6% rate of return). Net profit of the fisheries total increased from the year before or from 10½% of revenue to 19%.

Aggregated balance sheet of fishing and fish processing show that the total assets of the fisheries are 504 billions, liabilities are 564 billions and equity is a negative 60 billions.