Pingtan back in profit

Results for the fourth quarter, which ends 31 December 2016, are predicted to break-even to a slight profit per dilute share.

Xinrong Zhuo, chairman and CEO of the Pingtan, said: “We were pleased to quickly deploy 13 vessels to the Indo-Pacific waters, which we anticipate to begin selling fishing products within a very short period, and we also deployed six vessels to the international waters of the Pacific and Atlantic Oceans for squid and tuna products.”

He concluded: “Weare looking forward to full-load operation of these vessels in the coming months.”

The results remain subject to the completion of routine year-end closing procedures and audits by the Company’s independent accounting firm. The Company is set to release fourth quarter and full year 2016 results in March 2017.