Archive for November 2023
Lerøy Q3 hit by ISA issues
The Lerøy Seafood group is lowering its fish farming production forecasts for this year following a series of illness issues at some of its sites in Norway. Presenting its third quarter results today the group, which is part owner of Scottish Sea Farms, unveiled an 8% higher turnover at NOK 8,001m (£591m) but an operational EBIT (operational profit)…
Read MoreNorcod sales up, but profits yet to emerge
Norwegian cod farmer Norcod has reported a solid jump in its third quarter revenues this year, along with good progress in other areas. Sales were up from NOK 2m (£150,000) 12 months ago to NOK 21m (£1.55m) this time. The company also saw heavy investment in its biomass to fortify its marker position along with…
Read MoreSalmon Evolution biomass at new high
Land based fish farmer Salmon Evolution has passed yet another milestone with its highest ever biomass at 2,100 tonnes, up from 1,047 tonnes at 30 June. Salmon Evolution operates a hybrid flow-through facility at Indre Harøy on the Norwegian west coast. The company is targeting a production capacity of 100,000 tonnes HOG (head on gutted)…
Read MoreGrieg drops into Q3 loss
Grieg Seafood has become the first major salmon farming company for many years to plunge into the red. The company, which farms in Norway and in Newfoundland and British Columbia, Canada, today unveiled a third quarter operational EBIT or operational loss of NOK 86m (£6.3m). This compares with an operational profit of NOK 145m (almost…
Read MoreAKVA Group warns of salmon tax impact
The AKVA group, the world’s largest supplier of aquaculture services and solutions, has warned that the salmon tax is having a negative impact on the level of activity in the sea based business – and on land based operations. Presenting its results for the third quarter, the company said that the group delivered slightly reduced…
Read MoreThe November 2023 issue of Fish Farmer is out now online
The November issue of Fish Farmer magazine is out now online and you can read or download it here. Last month I had the great pleasure of attending the Association of Scottish Shellfish Growers’ Conference in Oban. It was an event with a real sense of community, bringing together people who clearly feel passionate about…
Read MoreScottish salmon exports leap 7% year-on-year
The value of Scottish salmon exports has jumped by 7% in a year as international demand continues to grow, according to the latest data from HM Revenue & Customs (HMRC). An analysis of the HMRC data by trade body Salmon Scotland shows that, for the first three quarters of 2023 to September, there was a…
Read MoreRAS firms projects close to volcanic eruption threat area
At least three Icelandic fish farming companies will be keeping a watchful eye on the south west of the country today where the risk of a major volcanic eruption loomed large at the weekend. The harbour town of Grindavik saw the evacuation of its 3,500 inhabitants on Saturday, after the government declared a state of…
Read MoreBakkafrost lays off 140 processing staff
Bakkafrost is laying off 140 factory processing staff in the Faroe Islands, blaming the local tax regime and changing business conditions for the decision. According to the radio station Kvf.fo, a church minister and a psychologist were present when the redundancies were announced at the company’s Glyvrar headquarters. Kvf said the atmosphere in the room…
Read MoreNova Austral rescue plan delayed for fifth time
A decision on the future of the large Chilean salmon farmer Nova Austral has been pushed back yet again. Shareholders were due to vote on a rescue package in the form of a new agreement yesterday, but creditors decided they needed more time to consider what is described as a Revised Organisation Proposal. A decision…
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