Markets Archive
Icelandic Salmon to launch own brand
Icelandic Salmon is preparing to launch its own brand in the coming weeks. The company said the label will be called “Arnarlax – Sustainable Icelandic Salmon” and will help the group break into new markets as well as differentiate its products from others. The launch is expected sometime during the current quarter. Icelandic Salmon is…
Read MoreKingfish almost doubles H1 revenues
The Kingfish Company, which specialises in the production of farmed yellowtail, came close to doubling its revenues, year-on-year, for the first half of 2021. Publishing its H1 report, Kingfish said net turnover rose by 95% during the period and at a time when many restaurants in Europe and the United States were closed due to…
Read MoreRussian Aquaculture back in the black
Russian Aquaculture is in profit again and revenue is up substantially for the first half of this year. The company’s unaudited results for the six months to 30 June show a net profit of almost RUB 2bn (£19.8m) compared with a loss of RUB 0.4bn (£4m) for the first half of last year. Adjusted EBITDA…
Read MoreAtlantic Sapphire averts liquid oxygen crisis
Florida-based salmon farmer Atlantic Sapphire this weekend managed to avert a possible crisis due to a sudden shortage of liquid oxygen. The company said on Friday that it feared running out of oxygen – which is vital for its land-based RAS (recirculating aquaculture system) facility – because it was being bought up by hospitals in…
Read MoreHuon performance hit by Covid and other incidents
Huon Aquaculture, the Tasmanian salmon farming company at the centre of a takeover battle, has suffered a loss of AUS $128m (£67m) for the financial year ended 30 June. The company said it had been a turbulent year, with challenges including a fish pen fire, rising transport costs and the disappearance of a large consignment…
Read MoreAtlantic Sapphire continues to struggle
Miami-based salmon company Atlantic Sapphire is continuing to find life difficult during the first half of this year, delivering weaker than expected financial results for Q2. The Danish-owned company, which experienced a number of technical problems earlier in the year, reported a pre-tax loss of US $51.5m (£37.6m), against a loss of $31.5m (£23m) in the…
Read MoreNTS wins battle for Norway Royal Salmon
Despite predictions to the contrary, NTS has won the battle to own Norway Royal Salmon. Yesterday, in a day of high drama and more than a few surprises in Oslo, NTS announced in the morning it had acquired just over 40% of the shares in the business. SalMar looked to be on their way to…
Read MoreScottish Sea Farms shines for SalMar
SalMar today announced a second quarter operating profit of NOK 661m (£55m), considerably lower than forecast by industry analysts. The corresponding figure for Q2 last year was NOK 882m (£73m) and something like that was expected this time. Scottish Sea Farms, however, in which SalMar has a 50% share, performed particularly well during the quarter,…
Read MoreSalMar set to buy into family salmon business
Fish farming giant SalMar, which last week launched a £953m bid for Norway Royal Salmon, announced today it has entered into agreement to acquire a 45% stake in the family owned business Refsnes Laks through a combination of share purchases and private placement. The purchase price is NOK 665m (around £55m). Refsnes Laks is a…
Read MoreMowi sees profit up in Q2
Strong demand for salmon gave Mowi’s operating profits a boost during the second quarter of this year, with its Scottish division performing particularly well. The world’s largest salmon farmer today reported a global Q2 operational EBIT or profit of €137m, against €99m for the corresponding period last year. Revenues increased from €911m to €1,000m. The…
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