High catch rates of cod and haddock helped push Aker Seafoods’ first-quarter revenues to NOK 241 million, up 3 percent from the corresponding quarter of 2011, the Norwegian company reported on Friday.
However, Aker’s operating earnings (before interest and taxes) were down 14 percent to NOK 50 million in the first quarter of 2012.
Aker CEO Olav Holst-Dyrnes said he’s satisfied with the results. The availability of cod and haddock has been “good,” with high catch rates. But saithe fishing has been challenging, with lower catch rates, though saithe prices have been high since the beginning of the year.
Holst-Dyrnes added that he expects the good availability of cod and haddock to continue throughout the year.
In January, Aker spun off of its Norway Seafoods Group subsidiary. It is now focused on harvesting, operates 11 trawlers.