Norway's Marine Harvest Group ended the year with a positive 4Q report, singling out the company's Morpol processing division, which reported operational earnings before interest and taxes (EBIT) of NOK 64 million (USD 10.2 million, EUR 7.6 million).
"Despite very high raw material prices Morpol managed to generate profit," said CEO Alf-Helge Aarskog.
The group overall recorded an operational EBIT of NOK 1 billion (USD 160.1 million, EUR 118.3 million) in the fourth quarter of 2013, compared to NOK 64 million (USD 10.2 million, EUR 7.6 million) in the corresponding quarter of 2012.
"2013 was the best year so far for Marine Harvest, with all time high revenues and annual operating profit," Aarskog said.
The report also singled out Scottish and Canadian operations, which also set records for profit. The Scottish group reported operational EBIT per kilo of NOK 10.23 (USD 1.67, EUR 1.21), compared to NOK -1.14 (USD -0.18, EUR -0.13) reported last year. Canadian farms reported an operational EBIT per kilo of NOK 10.20 (USD 1.63, EUR 1.21), compared to NOK -4.81 (USD -0.77, EUR -0.57) reported in 4Q 2012.
The company also announced it would distribute a quarterly dividend of NOK 1.20 (USD 0.19, EUR 0.14) per share, largely due to the good results.
