Net income for the 12 months ended Dec. 31 rose to $7 million from $6.4 million the year before even as revenue declined to $27.4 million from $27.9 million, the company said in a statement Wednesday.
It slaughtered 46,025 Nile crocodiles from its farms in northern Zimbabwe as sales by the company of the reptilesâ€™ meat in Europe rose 25 percent to 290 metric tons.
Operations at Padenga-controlled Lone Star Alligator Farms LLC in Texas almost halved to 8,586 skins after the company deferred culling by a year to improve quality of the hides.
Padenga accounts for 85 percent of the supply of Nile crocodile skins to luxury brands globally
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