By Sophie BootSeadragon, the fish oil refiner, more than quadrupled its first-half loss with revenue falling as the company continued its transition to higher value Omega-3 fish oil products from Omega-2. The company posted a loss of $3.4 million in the six months ended September 30, from $688,000 in the same period a year earlier. Revenue dropped 34.6 per cent to $3.1m, with negative normalised earnings before interest, tax, depreciation and amortisation of $2m, from negative ebitda of $146,000 in 2015's first half. Seadragon said it is capable of processing Omega-3 oil to supply to Europe, the US, China, Japan and Australia and is in discussion with multinational "key potential customers" but there's no guarantee of a contract at this stage. Seadragon missed its 2015 annual earnings guidance of $144,000 in ebitda, with negative ebitda of $390,000, and a net loss of $4.9m.

Source: New Zealand Herald November 18, 2016 00:03 UTC