A strong market and strong salmon prices driving improved profitability for Grieg Seafood AS.
Highlights – first quarter 2013
- Strong price growth in Europe throughout the first quarter, also in the USA towards the end of the period, due to lower supply-side growth and continued strong global demand.
- Operating profit of NOK 51m before fair value adjustment of biomass, against NOK 5m in 2012.
- Low seawater temperatures have reduced planned production growth, especially in the south of Norway.
- Higher cost level in Canada and Scotland due to biological events in previous periods.
- Better access to replacement smolt will give higher smolt entry in Canada in first half of 2013.
- Strong market outlook with likelihood of low supply-side growth and further good demand in 2013 and 2014.
To read more, please visit the Grieg Seafood website.