The quarter was characterised by constrained demand in some categories and increasing competition for consumers' disposable income‚ chairman Gavin Tipper said at the company's annual general meeting on Friday, 2 November.
"I&J had a difficult first quarter‚ with several of the fishing vessels undergoing cycle maintenance‚ lower foreign exchange gains‚ increased fuel costs and lower sales volumes concomitant with the lower catch volume for the quarter."
Tipper said results for the first half of the 2013 financial year were dependent on achieving targeted volumes over the festive season.
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