Codfarmers turns in 3Q loss

By

SeafoodSource staff

Published on
November 24, 2011

Codfarmers on Friday published its third-quarter results, including a 14.6 percent drop in revenues, to NOK 24.6 million.

The Norwegian cod producer also reported an operating loss of NOK 45.1 million in the third quarter of 2011, compared to an operating loss of NOK 5.9 million in the third quarter of 2010.

The company harvested a total of 629 metric tons (round weight) of cod at it own operations and 418 tons metric tons (round weight) from external operations.

Also in the third quarter of 2011, Codfarmers completed the acquisition of Atlantic Cod Farms.

The company said it’s the only cod producer in 2011 to release significant volumes of juvenile fish.

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