Markets Archive
Ohad Maiman steps down as Kingfish CEO
Ohad Maiman, the founder of the yellowtail fish farmer The Kingfish Company, has stepped down from his role as chief executive of the business. The surprise announcement comes just days after Kingfish announced a big rise in sales and successful completion of the final hurdle for its US farm project in Maine. In a letter…
Read MoreSalMar wins EU approval for NTS/NRS deal
SalMar has received European Union approval for its plan to acquire its salmon farming rival NTS and the NTS subsidiary Norway Royal Salmon. The European Commission said it had decided that SalMar’s decision to buy a controlling stake in NTS ASA was in accordance with EU competition legislation and the same applied to the merger…
Read MoreMowi poised to take control of Arctic Fish
Mowi is set to take a majority stake in the Icelandic salmon breeder Arctic Fish. It is Mowi’s first significant move into aquaculture in Iceland. Mowi recently warned that the controversial Norwegian ground rent tax announcement last month might force the international salmon giant to invest more outside Norway. Mowi said it had been following…
Read MoreSalmon Evolution CEO quits for family reasons
Salmon Evolution CEO Håkon André Berg has resigned due to “personal family matters”, the company said in a Stock Exchange announcement today. The board of directors of the land-based salmon farmer has acknowledged his decision, and has appointed Chief Financial Officer Trond Håkon Schaug-Pettersen as interim CEO with immediate effect. Berg will be available for…
Read MoreCermaq reins back investment despite high profits
The Norwegian arm of the salmon farming giant Cermaq has unveiled “good results” for last year, but says it is freezing investment worth NOK 400 million (£33m) and, with it, 300 new jobs in northern Norway. Mitsubishi-owned Cermaq Norway reported profits of NOK 1.7 billion (£143m) for 2021. The company said part of that surplus…
Read MoreBenchmark says 2022 profits will beat forecast
Aquaculture biotechnology business Benchmark says its profits for the year to 30 September 2022 are set to exceed market expectations. The company’s latest trading update, ahead of the audited full year results, suggests that Benchmark will report adjusted EBITDA “in the range of £30m-£31m” for the financial year. That would mean the company outdoing the…
Read MoreKingfish Company sales up 90% for Q3
Land-based aquaculture business The Kingfish Company has reported third quarter sales up by 90% year-on-year. The company’s update for Q3 shows that sales reached €5.5m (£4.8m) in the period, helped by strong demand and increased sales prices. for large fish (+25% YoY) reaching an average price per kg WFE (whole fish equivalent) of €17.10 (£14.86),…
Read MoreMowi Q3 operating profit up 83%
Mowi’s latest trading update predicts an operational EBIT or profit of €240m (£208m) for the third quarter of this year, a substantial increase on 12 months ago. This compares with an operational EBIT of €131m (£114m) in Q3 last year, an increase of around 83%. The results were higher than many analysts were predicting a…
Read MoreOTAQ looks to raise £3.6m through share issue
Marine technology business OTAQ is looking to raise up to £3.6m by issuing new shares. It has also announced plans to switch its share listing from the London Stock Exchange to the AQSE Growth Market. OTAQ is focused on geotracking, offshore technology and aquaculture. In terms of the latter it is probably best known for…
Read MoreIce Fish Farm posts loss for Q2
Ice Fish Farm, the Icelandic salmon company, has reported a second quarter operating loss of NOK 86 million (£7.2m) following a write-down of biomass. This compares to a profit of NOK 15m (£1.25m) for the corresponding period last year. It has been a difficult period for the company which was hit by an ISA (infectious…
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