Markets Archive
Iceland to investigate salmon merger
Iceland’s competition authority is to investigate a proposed merger between two of the country’s largest salmon farmers. Both Arnarlax and Arctic Fish are Norwegian-owned, being owned by SalMar and Norway Royal Salmon respectively. SalMar purchased the NTS group, which includes NRS, earlier this summer in one of the salmon industry’s biggest takeover moves for many…
Read MoreBarramundi looks at sale of its Australian operations
Singapore-based Barramundi Group has said it is considering selling its loss-making Australian business, because it requires more investment than the company can commit to. Barramundi operates fish farms in Singapore, Brunei and Australia. It has applied for 13 licences in Western Australia in an ambitious move to ramp up its production in that country from…
Read MoreSalmones Camanchaca lifts profits, cuts costs in Q2
Chile’s largest salmon farming company, Salmones Camanchaca, has unveiled a double second quarter boost in higher earnings and lower costs. Like most other global salmon producers, it has benefitted from higher market prices, but the big plus was its achievement in managing to cut costs in what has been a period of rising inflation. Salmones…
Read MoreContract ties, low volumes hit NRS profits for Q2
Norway Royal Salmon has paid a heavy price for its dependence on contract sales, the company’s second quarter results show. NRS, now part of the SalMar group, today reported an operational EBIT or profit of NOK 32m (£2.7m) against NOK 94m (£8.1m) for the same period last year. The April-June period this year was marked…
Read MoreAtlantic Sapphire looks forward to profitable production
Land-based salmon producer Atlantic Sapphire is set to deliver profitability when its phase 1 facility in Florida reaches full production, the company says. The pledge was made as Atlantic Sapphire reported its financial results for the first half of this year. Its operational EBITDA (earnings before interest, taxation, depreciation and amortisation) saw losses for H1…
Read MoreBenchmark reports continued growth for Q3
Aquaculture biotechnology group Benchmark Holdings has seen a fifth consecutive quarter of growth in revenue and earnings, thanks partly to the successful roll-out of its CleanTreat sea lice solution. Benchmark has also underlined its intention to float on the Euronext Growth Oslo stock market in Q4 of the current calendar year, and to uplist to…
Read MoreScottish Sea Farms Q2 profit jumps by £7m
Scottish Sea Farms generated an operational profit or EBIT of almost £17m (NOK 190m) during the April to June 2022 second quarter period. This compared with an EBIT of £10.4m (NOK 119m) in the same period last year. The figures are included in the SalMar Q2 report which, along with Leroy Seafood, owns a half…
Read MoreLerøy reports 58% profits boost for Q2
Norwegian seafood group Lerøy has joined its peers in reporting record second quarter results. The company, which is an integrated fish farming, conventional whitefish trawling and fish processing business, announced a 58% increase in its operational EBIT or profit of NOK 923 million (£77m). Lerøy also owns a half share in Scottish Sea Farms, but performance data…
Read MoreMowi reports Q2 record, but problems continue for Scotland
Mowi today became the second salmon giant to announce a “best yet” second quarter performance following Grieg’s success yesterday. Once again, however, biological and related issues continued to affect its Scottish operations. Driven by exceptionally high salmon prices and good operations during the April to June period, the world’s largest salmon farmer produced a record…
Read MoreSalmon prices hit first half results for Iceland Seafood
Iceland Seafood (ISI), the pan-European salmon and general seafood company, has announced a half-year net loss of €2.9m (£2.5m), compared to a net profit of €3.4m (£2.9m) for H1 last year. The company has pinpointed soaring fish prices, particularly relating to salmon for the change in its financial performance. The Reykjavik-based company went into salmon…
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