Business & Finance
SalMar delivered total operational earnings before interest and taxes (EBIT) of NOK 806.2 million (USD 92.1 million, EUR 82.7 million) in the first quarter of this year, up from NOK 708.1 million (USD 80.9 million, EUR 72.6 million) in Q1 2018. Thanks to the inclusion of Icelandic producer Arnarlax’s results for February and March 2019 and a higher volume harvested in northern Norway, this was its highest ever first-quarter EBIT.
The… Read More
Striped bass producer Pacifico Aquaculture has expanded its direct sales and nationwide logistics capabilities in-house as of this month, the company announced on 21 May.
Over the last year, Pacifico Aquaculture – which claims it is "the world’s first and only producer of responsibly-farmed, ocean-raised striped bass" – has grown its internal team to include a new logistics manager, two sales managers, a culinary… Read More
Grimsby, United Kingdom-based processing company Young’s Seafood Ltd. posted second-quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) of GBP 4 million (USD 5.1 million, EUR 4.5 million), which represented a 27.5 percent decline on the GBP 5.5 million (USD 7 million, EUR 6.2 million) achieved in Q2 2018.
Its revenues for the three months to 31 March 2019 fell 1.5 percent to GBP 134.2 million (USD 170.1… Read More
Scottish salmon farming company Loch Duart has appointed Alistair Erskine as its new chairman.
Erskine takes over from Andrew Barbour, who served as chairman since 2008, having joined as a non-executive director in 2002.
Erskine’s previous experience in the seafood industry includes managing J.W. Seafoods, seafood processor Allen & Dey, and salmon farming company Highland Fish Farmers Ltd.
“It’s an exciting time… Read More
Tokyo, Japan-based Maruha Nichiro Corporation, the world’s largest fishery company by revenue, on 15 May reported its consolidated financial results for the fiscal year ending March 2019. Sales were up from the previous year by 0.4 percent, but operating profit fell 11.2 percent. The company’s net profit rose 3.7 percent.
In its fishery and aquaculture business, sales decreased, as typhoons hurt bluefin farming operations. Declining… Read More
Citing strong business growth and an improved biological performance, salmonid producer Grieg Seafood ASA posted operational earnings before interest and taxes (EBIT) of NOK 267.5 million (USD 30.6 million, EUR 27.3 million) before fair value adjustment of biomass for the first quarter of this year, up from NOK 162.1 million (USD 18.5 million, EUR 16.6 million) in the corresponding period of 2018.
At the same time, the Bergen,… Read More
Despite a drop in sales volume of greater than 10 percent for the first quarter of 2019, High Liner Foods posted a higher adjusted earnings before interest, taxes, debt, or amortization (EBITDA).
The first quarter of 2019 saw High Liner's sales volume decrease by nearly 10 million pounds, from 88.1 million in 2018 to 78.5 million in 2019. Those sales represented USD 277.4 million (EUR 247.9 million), a USD 41.9 million (EUR 37.5 million)… Read More
Right before National Fish & Seafood announced it was closing its doors, two major seafood exporters said in a lawsuit that the now-defunct supplier owes them millions of dollars.
In a complaint filed last week in United States District Court in Boston, Massachusetts, Singapore-based Crustrade PTE LTD and PT Bumi Menara Interusa in Indonesia said that NFS failed to pay for “large quantities of fish it had contracted to purchase and… Read More
Former National Fish & Seafood employees – impacted by the company’s abrupt closing on 10 May – need additional help, according to the City of Gloucester, Massachusetts.
Around 180 employees have been affected by NFS ceasing operations, including more than 50 permanent, full-time employees with the remaining being primarily contract workers, Gloucester Mayor Sefatia Romeo Theken said in a press release.
A skeleton… Read More
Norwegian aquaculture services and equipment provider AKVA achieved record first-quarter orders totaling NOK 1.1 billion (USD 125.9 million, EUR 112.1 million), compared to NOK 639 (USD 73.1 million, EUR 65.1 million) in Q1 2018. It attributed the increase to strong sales across all of its regions.
On a trailing 12-month basis, the group’s order intake has increased to more than NOK 3 billion (USD 343.1 million, EUR 305.6 million),… Read More