08:45 AM EST, 02/26/2025 (MT Newswires) -- High Liner Foods ( HLNFF ) , a frozen seafood company, on Wednesday said fourth-quarter adjusted profit surged 71%.

Adjusted profit advances to US$12.5 million, or US$0.41 per share, from US$7.3 million, or US$0.23 per share, in the prior-year period.

Sales dipped to $235 million from $237 million. Lower pricing, product mix and increased promotional activity offset an increase in volumes.

Sales volume increased 1.3%, to 60.4 million pounds.

The company announced additional investments in Norcod and Andfjord Salmon Group. It will invest $6.75 million in Norcod and $10 million in Andfjord. Both investments will be funded by High Liner's cash from operations and will close in March. High Liner already has a stake in both companies.

In its outlook, High Liner Foods ( HLNFF ) said it continues to face challenging market conditions, including the potential inflationary impact of tariffs and related impact on consumer purchasing decisions.

The company will pay a quarterly dividend of $0.17 per share on March 15.