Business & Finance
Norway-headquartered salmon farmer Marine Harvest achieved operational earnings before interest and taxes (EBIT) of EUR 259 million (USD 273.3 million) in the fourth-quarter of last year, up from EUR 90 million (USD 95 million) in the corresponding period of 2015.
“Driven by high salmon prices on strong demand and reduced supply, we achieved record high operational results in the fourth quarter. It is very encouraging to see strong… Read More
Creditors of Europaco, a subsidiary of troubled Pacific Andes International Holdings, have won a court decision in the British Virgin Islands to have the company liquidated. The move comes on the heels of a decision made recently by another court in the BVIs to appoint liquidators for three other subsidiaries of China Fishery Group, which owns Pacific Andes.
Seattle, Washington, U.S.A.-based Glacier Fish Company and Malayan Banking Berhad… Read More
A Chinese producer of seafood and aqua-feed has had a bumper start to trading after getting listed on the Shanghai Stock Exchange.
One of the world’s leading producers and exporters of eel, Fujian Tianma Science & Technology Co. saw its share price jump 44 percent on the first day of trading recently. The firm is planning to expand into high-end feed for mariculture, including fish types such as bass, turbot and croaker. This is in… Read More
AquaBounty, which pioneered a faster-growing, genetically engineered salmon, has completed a reverse stock split in anticipation of its listing on the NASDAQ stock exchange.
The Massachusetts, U.S.A.-based company first announced a conversion of its shares in December in order to comply with NASDAQ listing requirements. The 1-for-30 reverse share split of its common shares was completed on 5 January, leaving the company with 6,463,935 common… Read More
Shifting consumer preferences resulted in a mixed third-quarter report for Canadian seafood company High Liner Foods.
While its overall profit was up, sales for both the quarter and the year were down for High Liner, as the North American seafood-eating public moves away from breaded and battered frozen seafood and toward more premium products and unprocessed items, according to High Liner CEO Keith Decker, who spoke during the company’s… Read More
Lerøy Seafood Group (LSG) has reported operating profit before fair value adjustments of NOK 960 million (USD 119.2 million, EUR 100.3 million) for the first-quarter of this year, down 25 percent from the record NOK 1.3 billion (USD 161.4 million, EUR 135.8 million) posted for the corresponding period of 2017.
“The decline in profit in Q1 2018 when compared with the same quarter in 2017 is mainly attributed to a lower harvest… Read More
Grimsby, United Kingdom-based JCS Fish has hired Jack Coulbeck as its new commercial manager to help contribute to the business’s continued growth as well as facilitate new product launches under its Big Fish Brand salmon range.
The son of JCS Fish founders Andrew and Louise Coulbeck, Jack Coulbeck holds a degree in accounting and finance, and recently served in a graduate role at Young’s Seafood for three years to gain insight… Read More
Nova Scotia, Canada-based Riverside Lobster International has been acquired by Quebec, Canada-based private equity group Champlain Financial Corporation, the owner of Cheticamp Fisheries.
Ascendiant Capital Markets - Riverside’s previous owner – announced the deal earlier this week. A distributor and processor of leading seafood brands, Riverside specializes in the sale and delivery of lobster and scallops to customers in… Read More