Markets Archive
Norcod still not in profit despite increased revenues
Norcod is finding that profits remain elusive despite improving revenues, according to its second quarter results published this week. Turnover for the Norwegian cod farmer emerged at NOK 28m, (£2.3m) up from NOK 2.4m (£200k) a year earlier. However, the loss before tax ended at NOK 49m (£4.1m), compared to a pre-tax loss of NOK…
Read MoreBioMar reports record numbers for Q2
Despite its firm stand on suspending trade with Russia, feed group BioMar has reported record revenue and earnings for Q2 of this year. Volume sales for the Danish-based company were up by 9% year-on-year to 352,000 tonnes, while total revenue was DKK 4.048bn (£458.04m). EBIT was DKK 261m (£29.41m) compared with DKK 211m (£23.87m) for…
Read MoreAKVA group records high revenues with cost related headwinds
AKVA group delivered record high revenue for Q2 of NOK 907m (£78.2m) an increase of 9% compared to Q2 2021. EBITDA decreased from NOK 79m (£6.8) in Q2 2021 to NOK 3m (£259,000) in Q2 2022. The Net Profit decreased from NOK 16m (£1.38m) last year to NOK -41m (-£3.53m) in Q2 2022. The order…
Read MoreAKVA posts profit warning as costs rise
Aquaculture technology company AKVA has warned that it expects to post a loss for the second quarter of 2022. After recording EBIT (earnings before interest and taxation) of NOK 103m (£8.6m) for Q1 of this year, AKVA Group said that Q2 resulted in a loss of NOK 41m (£3.47m). Expected revenue for Q2 of the…
Read MoreMarel reports higher revenues, lower profits for H1
International food processing equipment manufacturer Marel saw a strong order book and increased revenue for the first half of 2022, but the group’s net profits were slashed by nearly 30% year on year. Marel, which is headquartered in Iceland, has reported an order book of €893.5m (£748.3m) for H1 2022, compared with €740.7m (£620.3m) for…
Read MoreOTAQ sees revenue rise, profits fall
Marine technology business OTAQ achieved revenue growth in 2021/22 but recorded a loss for the same period as questions continue over whether its seal scaring devices will be allowed to operate in some major markets. Based in the UK and Chile, OTAQ supplies international customers including aquaculture, renewables and offshore energy. For the 12 months…
Read MoreMajor investors backing Atlantic Sapphire
Investor interest in the Florida-based salmon farming company Atlantic Sapphire has increased significantly in the past few days with two major share transactions. The Norwegian billionaire and businessman Petter Stordalen has bought heavily into the Miami business through his investment company Strawberry Capital, according to the latest shareholder list. A self-proclaimed environmentalist, his net worth…
Read MoreCooke takes Tassal stake up to 10%
Cooke Aquaculture has increased its stake in Tassal, the Australian salmon and shrimp farming business. The Canadian seafood giant has secured a further 6.2 million shares in the Tasmanian-based Tassal. This latest move equates to just over a 10% holding worth an estimated AUS $30m million (£17.26m), according to financial reports from Australia. It is…
Read MoreNorwegian authority approves SalMar deals
The Norwegian Competition Authority has approved SalMar’s takeover of the NTS integrated aquaculture group. It has also given the green light to a merger between the salmon farming businesses of SalMar and Norway Royal Salmon. The competition authority issued its long awaited statement at the weekend in which it said it had “contemplated” both proposals…
Read MoreMowi reports big jump in profit for Q2
Mowi more than doubled its operational profit, year on year, during the second quarter of this year the company disclosed in a trading update today, with Scotland producing an improved financial performance. Fuelled by higher salmon prices, the group’s EBIT (earnings before interest and taxation) was €320m (£273m) against €137m (£117m) a year ago. For…
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