Norwegian seafood company Lerøy Seafood Group has recorded a drop in first-half profits amid “substantially lower prices” for its main products, Atlantic salmon and salmon trout.
Net earnings in the six-month period amounted to NOK15m (US$2.6m) compared to NOK36.6m recorded in the first half of 2011, the company reported today (22 August).
Go deeper with GlobalData
The group’s operating profit, before fair value adjustment of biomass, was NOK240.8m in the first half, a 72.8% drop on last year.
Lerøy blamed the drop in profit on “substantially lower prices for the group’s main products, Atlantic salmon and trout, compared with the same period last year”.
Sales in the period dropped to NOK4.47bn, a decline of 3.3% on last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
