Higher cod prices lift Havfisk earnings – Fishupdate.com

Higher cod prices lift Havfisk earnings Published:  17 July, 2014

THE big Norwegian fishing company Havfisk (known as  Aker Seafoods until a name change last year) has today  reported a significant  jump in earnings and operating profits for the second quarter of this year.

The company achieved an EBITDA of NOK  (Norwegian kroners) 47 million in the three month period , an increase of NOK 15 million compared to the second quarter in 2013. Operating revenues in the second quarter totalled NOK 226 million, which is NOK 69 million higher compared to the same period in 2013.The income per operating day is 14 per cent higher in the second quarter than for the corresponding period last year. This is due to higher prices and some increase in volume. The most important species for Havfisk is cod, haddock and saithe, but in the second quarter an increased volume of other species such as black halibut, redfish and shrimps have been fished, compared to earlier periods.CEO Olav Holst-Dyrnes said: “We are satisfied with the operations in the second quarter. The income per operating day has increased compared to the same period in 2013. We have increased the volume of other species than cod and haddock. The new and upgraded trawlers have contributed to improved quota utilization,. In the quarter the achieved average prices for all harvested volume increased with 26 percent compared to the second quarter in 2013.He added: “The positive price trend has continued in the second quarter. The prices have increased for all cod, haddock and saithe. The quota position is good for the second half year with much cod quota left to fish. The positive price-trend appears to continue into the second half.”

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