High salmon prices led to record results for Marine Harvest

Marine Harvest in Puerto Montt in ChileMarine Harvest in Puerto Montt in Chile.Photo: Lise Åserud / SCANPIX

Livestock company Marine Harvest has received its best operating profits ever due to high salmon prices.

– Prices we’ve never seen before, as well as strong demand and reduced supply, has led to our achieving record operational results, commented CEO Aarskog  regarding the results for the second quarter of 2016.

The Livestock Group achieved an operational EBIT of 149 million euros in the second quarter of 2016, compared with 84 million euros in the same quarter of 2015.

Operating income was 832 million euros. During this period the company slaughtered 87,159 tons of fish, down from 104,158 tonnes in the same period in 2015.

The Board of Marine Harvest believes that the market will remain strong and will therefore pay out 3.2 kroner in dividends per share.

Although the results are good, the CEO still wants to reduce expenses. – Despite record high salmon prices, our production costs have become unacceptably high and the cost trend is not satisfactory. Compared with the second quarter of 2015, the costs are up in all areas, says Aarskog.


Source: NTB scanpix / Norway Today