News: Iceland Seafood International returns to profit in Q3

Improving margins steered the whitefish and salmon processor back into profit, with key indicators "heading in the right direction," according to the company's CEO.

Iceland Seafood International (ISI), a major whitefish and salmon processor, turned a year-ago loss into a third-quarter profit as its margins improved significantly through a combination of lower salmon prices and strong haddock and cod sales.

Key points:

• Profit turnaround:

  ISI moved from a loss in the previous year's third quarter to a profit in the current quarter. 

• Market factors:

  The improved profitability was largely due to lower salmon prices and high demand for haddock and cod. 

• Positive margin impact:

  The combination of lower salmon costs and strong whitefish sales significantly boosted ISI's profit margins.