Lower harvest and prices affect Lerøy Seafood Group’s profits
Farmed salmon. (Photo: Lerøy Seafood)
Lerøy Seafood Group (LSG) experienced a decline in profit in the first quarter this year when compared with the same quarter in 2017, which it mainly attributed to a lower harvest volume and lower prices for salmon and trout.
The Group’s operating profit before fair value adjustment related to biological assets was NOK 960 million (USD 119 million) compared with NOK 1,277 million (USD 158.4 million) in the first quarter last year.
Despite these challenges, LSG CEO Henning Beltestad pointed out the process of developing Lerøy into a fully integrated company with both whitefish and redfish in its value chain continues at full pace.
The Group's profit before tax and fair value adjustment related to biological assets was NOK 1,018 million (USD 126.2 mill...
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