Markets Archive
Bakkafrost delivers higher than predicted operating profit
The Bakkafrost group, owners of the Scottish Salmon Company, delivered a total operating EBIT or profit of 223.5m Danish kroner (£26m) during first three months of this year, higher than some analysts were suggesting. The group harvested 21,000 tonnes gutted weight, with 7,000 tonnes coming from its Scottish operations. The combined farming and Value Added…
Read MoreIceland shines for NRS, but Norway disappoints
Norway Royal Salmon today announced a first quarter operating profit of NOK 60m (£5m) during the first quarter of 2021, down from NOK 75m (£6m) a year earlier. The latest quarter’s profits were also appreciably lower than the NOK 87m (£7.46m) some industry analysts were expecting. Although Arctic Fish, its recent Icelandic acquisition, performed particularly…
Read MoreNorcod turns loss into profit
Norcod has announced a significant turnaround in its financial position, nearly doubling revenues and reporting a 2021 first quarter profit. The Norwegian cod farmer announced an income of NOK 11.8m (£1m) compared to NOK 6.3m (£546k) for the same period last year. The pre-tax operating profit was NOK 1.5m (£130k) against a loss of NOK…
Read MoreJanuary’s cyber attack cost AKVA £4m
The cyber attack which hit the AKVA group at the beginning of this year has cost the business more than £4m or NOK 49.7m. The figure is disclosed in the global aquaculture services company’s 2021 first quarter figures. The attack took place on 10 January, seriously disrupting a number of AKVA’s systems for a time,…
Read MoreAussie kingfish producer looks to Oslo listing
A leading Australian aquaculture company has taken the unusual step of asking to be listed on the Oslo Stock Market . Clean Seas Seafood Limited, based in Spencer Gulf, Port Lincoln, South Australia and a producer of kingfish, mulloway and tuna, has made a formal application for a secondary listing on the Euronext Growth Exchange,…
Read MoreNordic Halibut appoints commercial chief
Following a successful debut on Oslo’s EuroNext Growth last week, Nordic Halibut has appointed a new Chief Commercial Officer (CCO) to drive the company forward. He is Atle Jacobsen, who has more than 20 years’ experience in director sales and marketing roles. Jacobsen joins from Tine SA, Norway’s largest exporter of cheese and other dairy…
Read MoreNordhammer in line for chair’s role at SalMar
Leif Inge Nordhammer is set to become the next Chairman of fish farming giant SalMar, subject to a shareholders’ vote at the company’s annual general meeting in June. Nordhammer is the recommended candidate put forward by SalMar’s Nomination Committee to succeed Atle Eide, who will be stepping down at the AGM on 8 June. Nordhammer…
Read MoreSalmon Evolution puts brakes on share issue
Salmon Evolution, the company which is developing two large-scale land-based salmon farm sites in Norway and South Korea, has cancelled a further fundraising exercise after its shares dipped below the offer price. Salmon Evolution carried out a successful share issue on Oslo’s Euronext stock exchange, via a private placement share issue at NOK 6.0, raising…
Read MoreSalmon Evolution has ‘roadmap’ to ambitious RAS target
Land-based farmer Salmon Evolution says it has a “clear roadmap” to achieving annual production of more than 70,00 tonnes by 2030. The target is set out in the company’s annual report for 2020. In May last year, Salmon Evolution started the construction of its RAS (recirculating aquaculture system) site at Indre Harøy in Norway, and…
Read MoreKingfish producer reports harvest up for Q1
The Kingfish Company, producer of high value yellowtail kingfish, is reporting a first quarter harvest of 228 tonnes, 19 per cent up on the final three months of 2020. The company is still in the red financially but says this is expected given the pace of investment required to build up capacity in the US…
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