Continued decline in the global supply of salmon and good demand resulted in higher earnings and profits for Grieg Seafood in the second quarter of 2013 and the first half of the year.
The company on Tuesday posted EBIT of NOK 133.7 million (USD 22.4 million, EUR 16.7 million) for the second quarter of 2013, compared to NOK 13.7 million (USD 2.3 million, EUR 1.7 million) during the same period last year.
Profit for the quarter rebounded to NOK 87.8 million (USD 14.7 million, EUR 11 million), compared to a loss of NOK 3.1 million (USD 519,395/EUR 388,935) in the second quarter of last year.
Harvest volumes for the quarter were 14,397 metric tons (MT).
The company said it expects the first demand and low supply growth to continue through 2013, with third quarter harvest volumes predicted at 14,900 MT. The company said 2014 harvest volumes are also expected to remain low, returning to a level of 15,000 MT in 2015.
EBIT for the first half of 2013 was NOK 184.8 million (USD 31 million, EUR 23.1 million), up from NOK 18.6 million (USD 3.1 million, EUR 2.3 million) in 2012.
The company on Tuesday posted EBIT of NOK 133.7 million (USD 22.4 million, EUR 16.7 million) for the second quarter of 2013, compared to NOK 13.7 million (USD 2.3 million, EUR 1.7 million) during the same period last year.
Profit for the quarter rebounded to NOK 87.8 million (USD 14.7 million, EUR 11 million), compared to a loss of NOK 3.1 million (USD 519,395/EUR 388,935) in the second quarter of last year.
Harvest volumes for the quarter were 14,397 metric tons (MT).
The company said it expects the first demand and low supply growth to continue through 2013, with third quarter harvest volumes predicted at 14,900 MT. The company said 2014 harvest volumes are also expected to remain low, returning to a level of 15,000 MT in 2015.
EBIT for the first half of 2013 was NOK 184.8 million (USD 31 million, EUR 23.1 million), up from NOK 18.6 million (USD 3.1 million, EUR 2.3 million) in 2012.
