Blue Star falls as loss widens on higher expenses

Blue Star Foods

16/08/2022 17:47

** Shares in seafood processor Blue Star Foods  BSFC.O  fall
6.5% to $1.29
    ** Blue Star's net loss for the second quarter widens to
$1.4 million from $0.4 million a year earlier, hit by higher
cost of goods and increases in salaries and wages  urn:newsml:reuters.com:*:nGNX9yDLBJ
    ** However, CEO John Keeler says Blue Star is on track to
nearly double revenue for 2022, helped by higher prices
    ** As of June 30, Blue Star had around $2.6 million in cash,
compared to $3 million on March 31
    ** Shares have lost more than a fifth of their value this
year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))