Blue Star Foods falls on wider annual loss

Blue Star Foods

18/04/2023 16:25

** Shares of seafood processor Blue Star Foods Corp  BSFC.O 
fall as much as 12% to $0.12
    ** Stock last down ~7%
    ** Company's 2022 loss widened due to higher cost of goods
sold and increase in operating expenses
    ** BSFC's annual net loss was $13.2 mln, compared with $2.6
mln loss a year earlier
    ** Company's gross loss was $0.6 mln for the year ended Dec.
31, vs a gross profit of $2.0 mln a year earlier
    ** Full-year revenue rose 28% to $12.8 mln
    ** Stock down 65.8% so far in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))