Markets Archive
Lice treatment helps Benchmark double profits
Aquaculture biotech company Benchmark has reported revenue up by a third and doubled its adjusted profits for the first half of the current financial year. In its interim report, Benchmark’s revenues were up 33% to £79.2m and adjusted EBITDA (earnings before tax, interest, depreciation and amortisation was £15.9m (H1 financial year 2021: £7.9m). Adjusted EBITDA…
Read MoreGrieg reports strong results in ‘historic’ market
Grieg Seafood CEO Andreas Kvame has said the first three months of 2022 have been “unlike anything” he has seen in his long career in the industry. The quarter has been dominated by soaring salmon prices, but also rapidly rising costs from several directions. The company, which shed its Shetland and Scottish interests at the…
Read MoreNRS issues profits warning
Norway Royal Salmon has issued a profits warning ahead of its 2022 first quarter results, due later this month. The company said the problem relates biological challenges, with higher than usual winter wounds at its Norwegian farms, leading to early mass harvesting. In a stock market statement it said: “NRS [Norway Royal Salmon] has during…
Read MoreAKVA sees revenue and profits up for first quarter
Aquaculture technology group AKVA has reported revenue for Q1 of 2022 up 18% year on year to NOK 849m (£70.7m) and earnings up 23% to NOK 103m (£8.6m), excluding the cost of the cyber-attack the company suffered at the start of 2021. Net profits for Q1 were up from NOK 14m (£1.2m) in Q1 of…
Read MoreLerøy profits up, but CEO warns of rising costs
Lerøy Seafood today became the latest fish farming business to report near double first quarter operating profits on the back of rising salmon prices. The group, which has a half share in Scottish Sea Farms, also owns a 10-strong white fish trawler fleet. As a result, it reaped the benefits of higher cod and haddock prices…
Read MoreScottish Sea Farms helps SalMar to profit in Q1
SalMar today became the latest fish farming company to report increased first quarter operating profits on the back of soaring salmon prices. The salmon giant, which is part owner of Scottish Sea Farms (SSF), posted an operational EBIT of NOK 1.26 billion (£105m), almost double the NOK 627m (£52m) figure for the same period last…
Read MoreMowi Q1 profit soars, but Scotland down again
Boosted by soaring salmon prices, Mowi today unveiled a record first quarter operating profit or EBIT, but results from its Scottish business were once again disappointing. The world’s largest salmon farmer announced an operating profit of €206.7m (£176.7m) during the January to March period against €109.2m (£93.3m) in Q1 last year. The group turnover was €1,095m…
Read MoreBakkafrost’s Scottish farms on road to recovery as group profits rise
Bakkafrost almost doubled its operating profit during the first three months of this year, with its Scottish farming business showing a big improvement. Releasing the 2022 Q1 results, the Faroe Islands based salmon farmer announced an EBIT (earnings before interest and taxation) figure of 418 million Danish kroner (£48m), against DKK 244m (£28m) 12 months…
Read MoreBleikers Smoke House under investigation
The National Food Crime Unit is investigating Bleikers, one of the UK’s leading salmon smoke houses, which has gone into administration after losing a major supermarket contract. The North Yorkshire based company was a supplier to the Aldi group which abruptly pulled its business from the North Yorkshire seafood supplier earlier this year. Gavan Wafer,…
Read MoreAquaBounty says its GE production is on track
AquaBounty Technologies, the US firm producing genetically-modified salmon, has reported an increased financial loss for Q1 of this year, but says its drive to increase production is on track. AquaBounty said the company made a net loss of US $5.1m (£4.1m)in the last quarter, compared with a loss of $4.2m (£3.4m) in the same period…
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