Markets Archive
Son of Samherji’s CEO buys overseas division
The European and North American operations of Samherji, Iceland’s largest integrated seafood group, have been acquired by a company run by the son of the group’s Chief Executive Officer. A Netherlands-based company owned by Baldvin Thorsteinsson (Þorsteinsson), son of Samherji’s CEO, Thorsteinn Már Baldvinsson) has reached an agreement to buy the assets of Álda Seafood, the…
Read MoreBenchmark raises NOK 158m for Oslo Stock Exchange debut
Benchmark Holdings, parent to the Benchmark aquaculture biotechnology group, has raised NOK 158 million (£13m) in preparation for a listing on the Oslo Stock Exchange. The issue was priced at NOK 4.50 and a total of more than 35 million shares were prepared. Benchmark said it is planning for the shares to start trading on…
Read MoreISI signs ‘letter of intent’ for sale of UK business
Iceland Seafood International (ISI) has signed a “letter of intent” with a prospective buyer for the sale of its UK business. ISI announced on 17 November that it was looking to dispose of the business, citing uncertainty over Brexit as the reason for withdrawing from the UK market. The decision placed a question mark over…
Read MoreAndfjord reports good progress for its land-based farm
Land-based salmon farmer Andfjord Salmon has reported a third quarter operating loss of NOK 14.7 million (£1.2m), up from a loss of NOK 11.4m (£950,000) on the same period last year. But the company has also reported continued good biological conditions at its first land-based pool at Kvalnes, Andøya, Norway. Andfjord Salmon reports holding cash and…
Read MoreNTS reports higher revenue but lower profits
The NTS group has unveiled a reduced third quarter operating profit or EBIT of NOK 78.5 million (£6.5m). The operating profit in Q3 last year was NOK 98.3m (£8.1m). The results were announced as it emerged that SalMar is now making a bid for all the shares in the business, not just a majority holding.…
Read MoreCooke completes Tassal takeover
Cooke Aquaculture has sealed the deal for its acquisition of Australia’s Tassal Group, in the completion of a process that was agreed in principle back in August this year. Cooke’s Australian subsidiary, also called Cooke, has acquired all outstanding shares of Tassal for AUD $5.23 (£2.93) per share in cash by way of a scheme…
Read MoreIce Fish Farm reports profits up fivefold
Icelandic salmon farmer Ice Fish Farm has posted a third quarter operating profit of NOK 54 million (£4.5m), well up on Q3 a year ago when the company’s profit was just NOK 10m (£850,000). Turnover in the July-September period was NOK 178m (£15m), more than double the NOK 64m (£5.4m) total 12 months earlier. The…
Read MoreMåsøval falters in Q3, Gigante construction continues
Two more Norwegian salmon producers, Måsøval and newcomer Gigante Salmon, have announced their figures for the third quarter of 2022. Måsøval saw its operating profit halved to NOK 61.9m (£5.25m) compared to NOK 120.6m (£10.2m) reported in Q3 last year. Turnover ended at NOK 377.6m (£32m), against NOK 483.1m (£41m) 12 months ago. The company…
Read MoreNorcod delivers upbeat Q3 report
Cod farming company Norcod has delivered an optimistic third quarter assessment on its future operations. The Norwegian business has announced considerably reduced losses from NOK 16.5m (£1.4m) for the same period last year to NOK 3m (£254,000) in the latest quarter. It also reports that, with countries reducing fishing quotas, farmed cod is well placed…
Read MoreGrieg freezes investment plans in Norway
Grieg Seafood CEO Andreas Kvame revealed today his company had identified several large investment opportunities along the Norwegian coastline, most of which have now been put on hold because of the government’s plans for taxing the industry. Presenting the company’s third quarter results, he said political risk in Norway had increased significantly as a result…
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