Markets Archive
Chiefs say SalMar’s NRS takeover will benefit shareholders
Two senior figures involved in SalMar’s takeover of Norway Royal Salmon and SalmoNor say the deal, which will create the world’s second largest producer of Atlantic salmon after Mowi, will be positive for the companies concerned. Vibecke Bondø, Chairman of the NTS group – which is currently majority owner of NRS and SalmoNor, and itself…
Read MoreNZ King Salmon hit by heavy mortalities
New Zealand King Salmon, the country’s largest salmon farmer, suffered heavy mortality rates last year, its annual report has revealed. It has also reported a loss of NZ $73m (£37.6m) in the 12 months to January 31st 2022, against a loss of NZ $7m (£3.6m) in the previous 12 month period. This was despite an…
Read MoreSalMar in deal to take over NRS
SalMar and Norway Royal Salmon announced today that they have entered into an agreement to merge the two businesses, with SalMar the acquiring company. An Oslo Stock Exchange statement said the purpose of the merger is to increase value creation in the regions in which the two companies operate, and to make it possible to…
Read MoreBarramundi sees harvest, revenue fall for Q1
Australasian fish farmer Barramundi Group reported reduced harvest volumes, year on year, for the first quarter of 2022. The company also saw net revenue fall 11% to AUS $8.1m (£4.6m). Barramundi’s harvest for Q1 was 506 tonnes (Q1 2021: 543 tonnes). The company recorded a net financial loss of AUS $5.9m (£3.3m) for the quarter.…
Read MoreSalmon Evolution gearing up for year-end first harvest
Land-based fish farming company Salmon Evolution has said it expects to complete its first harvest towards the end of this year. Salmon Evolution announced the key target as it unveiled its first quarter results for 2022 which show a deficit of NOK 11m (£916,000) against NOK 6.6m (£550,000) for the same period last year. Salmon…
Read MoreNorway Royal Salmon beats expectations in Q1
Norway Royal Salmon has announced a higher than forecast operating profit for the first quarter of this year. Ten days ago the company issued a profits warning after it revealed it had been affected by a higher incidence of winter sores than normal. It then expected a Q1 operating profit (earnings before interest and taxation…
Read MoreNew board members for Norcod
Two heavy hitters from the seafood sector have been appointed to the board of Norwegian cod farmer Norcod, as the company prepares to move on to the main list of the Oslo Stock Exchange. Former Norwegian Seafood Council CEO Renate Larsen and Trine Danielsen, Chief Commercial Officer of aquaculture industry organisation Blueplanet Academy AS joined…
Read MoreHalibut farmer reports jump in sales
Fish farmer Nordic Halibut has reported a big increase in sales during the first three months of this year, proving it is not just salmon companies which are enjoying a boom. The company announced a 63% Q1 increase in revenues to NOK 18.65m (£1.5m). Nordic said it is experiencing increased demand from existing and new…
Read MoreBarramundi plans AU$350m investment in Australia
Barramundi Group has announced plans for a major expansion of its operations in Australia. The 10-year project, focused on the West Kimberley Coast in the state of Western Australia, is expected to involve a capital spend of AU$350m (around £200m), creating 350-400 jobs and adding to local business opportunities for the region. The project plan…
Read MoreFamily fish farmer quadruples Q1 profit
The family-owned Måsøval salmon farming group saw its operating profit more than quadruple, year on year, during the first quarter of 2022. The Norwegian company announced a Q1 EBIT (earnings before interest and taxation) of NOK 75 million (£6.25m) against NOK 18m (£1.5m) for same period 12 months earlier. Måsøval also confirmed that it intends…
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