Lerøy reports higher earnings but lower profits for Q2
Lerøy Seafood Group is a world-leading seafood corporation with a history reaching back to 1899
The Lerøy Seafood Group reports higher earnings in the secod quarter of 2019, compared with the same period in 2018, but lower profits.
In Q2 2019, Lerøy Seafood Group (LSG) reported revenue of NOK 5,340 million (USD 594 million), an increase of 5.9 % compared with the same period in 2018 (NOK 5,042 million).
Operating profit before fair value adjustment related to biological assets was NOK 774 million(USD 86.1 million) in Q2 2019, down 22.6 % compared with NOK 1,000 million in Q2 2018. Lower earnings for Farming, attributed to lower prices realised and higher release from stock costs, represent the most significant reason behind the fall in earnings in Q2...