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July 20, 2016

Marine Harvest hails earnings improvements 

Norwegian salmon farming company Marine Harvest has announced its results for the second quarter of 2016, with operational EBIT for the group up by over 50% on the same period last year, at EUR147m (US$161.7m), compared to EUR84m in 2015.

Norwegian salmon farming company Marine Harvest has announced its results for the second quarter of 2016, with operational EBIT for the group up by over 50% on the same period last year, at EUR147m (US$161.7m), compared to EUR84m in 2015.   However, in 2015, the company experienced a 43% drop in its Q2 earnings as falling prices hit its Chilean operations.   The total volume of fish farmed during the second quarter of 2016 was 87,000 tonnes, with the majority of that being harvested in Norway, at 54,000 tonnes, Scotland, 11,000 tonnes, Canada 11,500 tonnes, and the remaining 3,500 tonnes elsewhere. In 2015 420,000 tonnes of salmon were harvested.

Total operational EBIT was 2.10 Euros for Norway, 0.45 Euros in Scotland, 2.35 Euros for Canada and -0.25 Euros for Chile.   Listed on both the Oslo and New York Stock Exchanges, Marine Harvest is one of the largest seafood companies in the world, and the world’s largest producer of Atlantic salmon.   The company’s complete Q2 report will be released on 18th August. 

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