Wednesday , March 3 2021

Lerøy doubled

Lerøy Seafood announced a NOK 557.27 million after tax in the third quarter of 2018, compared to SEK 277.13 million in the same period last year.

Profit before taxes was NOK 711.44 million, compared with NOK 351.61 million the previous year.

Operating profit was NOK 712.91 million, compared with NOK 346.69 a year earlier.

The operating profit before the biomass valuation was NOK 660.13 million, compared with NOK 861.31 million in the third quarter of 2017. The forecast was NOK 737 million.

Net sales of the business were NOK 4 455.68 million, compared with NOK 4373.29 million in the third quarter of 2017. Analysts' expectations were NOK 4 532 million.

According to the report, the decline in salmon and trout was the main reason for declining income in the third quarter of 2018.

The Group's production in the third quarter and so far in the fourth quarter shows a good biological situation. In the third quarter, the Group's permanent biomass has been 6 percent lower than in the third quarter of 2018 compared with the third quarter of 2018,

"We have had good biological production in the third quarter, but we have made good production for the significant growth of biomass for later harvesting, a small amount, as previously reported, yielding lower revenues this quarter, but we have made good returns and continued positive growth over our overheads over time We have a strong demand for our high quality crustaceans, the market is strong and we maintain a 166,000 tonne harvest for Norway, "commented Lennon Lennon Henning Beltestad.

Here is a report and a presentation.

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