Norway Pelagic ASA’s 3Q financial results announced on Friday are strong due to healthy demand from Japan as well as improved margins on herring.
The fishing and processing company’s 3Q revenue was NOK 14.8 million (USD 2.7 million, EUR 1.9 million), compared with NOK 44.8 million (USD 8.2 million, EUR 5.8 million) during the same period in 2010.
A possible 16 percent quota reduction in Norway’s spring-spawning herring and flat supply trends for other species will translate into high prices this season, the company reports.
The Austin Fish consumer division was consolidated into Norway Pelagic in the third quarter, which the company expects will strengthen its retail product market position.
Norway Pelagic ASA is the largest producer and seller of pelagic fish such as herring, mackerel and capelin in the North Atlantic.
