Markets Archive
SalMar presses ahead as NTS votes down board change
SalMar announced today it was pressing ahead with its bid to acquire the rival NTS aquaculture group. The salmon farming giant has formally started the process to acquire all the shares in NTS despite an attempt to thwart the move at an NTS board meeting. SalMar already claims to have the necessary and irrevocable 50%…
Read MoreAquaBounty’s genetically-engineered harvest nets $783,000
The first commercial-scale harvest of genetically-engineered (GE) salmon has been a success, according to US-based producer AquaBounty Technologies. The company, which rears GE salmon in land-based RAS (recirculating aquaculture systems) facilities, has reported harvest revenue for the full year 2021 of US$783,000. During Q4 of 2021, the company harvested 91 tons of GE Atlantic salmon…
Read MoreNorcod ‘positive’ despite higher losses
The white fish farmer Norcod has reported a big increase in losses during the final part of last year despite higher sales. Nevertheless, the young – but market leading – cod producer stressed that the outlook was very positive. It is only a few weeks ago that Norcod announced it had won a £4m contract…
Read MoreWitzøe steps down as SalMar CEO
Gustav Witzøe has resigned as CEO of SalMar, the company he built into one of the world’s largest salmon farming businesses. He dropped the bombshell last night without giving a specific reason why he was stepping down at a time when SalMar is poised to complete the takeover of the NTS integrated aquaculture group. The…
Read MoreFrøy reports jump in earnings and profits for Q4
Norwegian wellboat and aquaculture services company Frøy reported a strong finish to 2021 with increased profits and a healthy order book, its Q4 results show. Frøy is one of the divisional businesses within the NTS salmon farming group which is about to become part of SalMar. The results show the business would make an attractive…
Read MoreBenchmark earnings soar with new lice treatment
Aquaculture health and nutrition group Benchmark has reported a big jump in revenue and profits for the first quarter of 2022, after its long-awaited CleanTreat sea lice treatment started its first commercial operations. Group revenues were up 38% year-on-year to £40m (Q1 2021: £3m) and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation and…
Read MoreBakkafrost Q4 earnings below expectations, but Scotland improving
Bakkafrost today unveiled a well below par 2021 fourth quarter operational profit (EBIT) of 120m Danish kroner (£13.5m) as biological problems continued to affect its Scottish Salmon Company business. But the better news is that mortality rates in Scotland, which have dampened results over the past year, are returning to normal. Harvest volumes during the…
Read MoreOusted NTS chairman calls for a third EGM
The saga over the aquaculture group NTS may not be over yet with a demand for a third extraordinary general meeting in less than six weeks. NTS is about to become part of the SalMar fish farming group after SalMar secured a majority of shares in the company, But the shareholder infighting continues. On Friday,…
Read MoreHelge Gåsø ousted in boardroom coup
Helge Gåsø was today dramatically voted off the board of NTS, the integrated aquaculture group he created. The NOK billionaire entrepreneur lost his seat at a second extraordinary general meeting of NTS called by a group of rebel shareholders who didn’t like the way it was being run. However, Gåsø and his family still holds 37% of the…
Read MoreSalMar posts higher Q4 profits, but Scotland disappoints
Salmon giant SalMar has announced a final quarter operating profit of NOK 890m (£74m) – more than double the 2020 Q4 figure of NOK 414m (£34.5m). There were excellent results from its northern and central Norway farms and from Arnarlax, its Iceland salmon farming offshoot. But the performance from Scottish Sea Farms (also known as…
Read More