Posts Tagged ‘Bakkafrost’
Bakkafrost salmon hitches ride on ‘sustainable’ flight
Yesterday a Virgin Atlantic plane carried out the first transatlantic flight fuelled entirely by sustainable aviation fuel – and it was carrying a cargo of salmon from the Faroe Islands. The consignment of fresh salmon came from Faroese producer Bakkafrost, which said its participation in the flight was part of the company’s commitment to reducing…
Read MoreBakkafrost lays off 140 processing staff
Bakkafrost is laying off 140 factory processing staff in the Faroe Islands, blaming the local tax regime and changing business conditions for the decision. According to the radio station Kvf.fo, a church minister and a psychologist were present when the redundancies were announced at the company’s Glyvrar headquarters. Kvf said the atmosphere in the room…
Read MoreHigh salmon prices will continue into 2024 – Bakkafrost chief
Bakkafrost CEO Regin Jacobsen remains in positive mood despite various challenges at its Scottish and Faroe Island farming operations. He told shareholders in the company’s third quarter report yesterday that the supply growth was likely to remain low for the coming quarters. “The Chinese market has gained momentum and we have also increased our market…
Read MoreBakkafrost to postpone some slaughtering as profits drop
The Bakkafrost Group delivered a total operating EBIT or operating profit of 269 million Danish kroner (£31m) during the Q3 July to September period this year, down from DKK 325m (£37m) 12 months ago. With lower harvests from the Faroe Islands and problems in Scotland, the results were not unexpected, but the company has also…
Read MoreBakkafrost Scotland losses mount but progress on the horizon
Bakkafrost’s farming operations in Scotland continued to produce sizeable losses between July and September, the Q3 figures show. The Farming Scotland EBIT or operational loss was DKK 282 million (£33m), up from a loss of DKK 180m (£21m) a year ago. Freshwater Scotland saw its operational EBIT or profit increase from DKK 11m (£1.2m) to…
Read MoreAnother award for Bakkafrost’s Native Hebridean
Salmon producer Bakkafrost Scotland has picked up another award for its Native Hebridean Salmon. The company was declared Primary Producer of the Year at the Highlands and Islands Food & Drink Awards 2023, held in Inverness last Friday night at the Kingsmills Hotel. Bakkafrost’s Native Hebridean product has won numerous awards over the past few…
Read MoreBakkafrost smolt hatchery set for expansion
Bakkafrost has signed an agreement with Norwegian recirculating aquaculture system (RAS) technology company Nofitech to expand the Glyvradal smolt hatchery on the Faroe Islands. The project will expand the hatchery’s capacity by 13,000 cubic metres. Bakkafrost says the move is part of its long term investment plan and will mean that the annual production of…
Read MoreGrieg could raise up to £125m from Shetland sale, analysts say
The sale of Grieg Shetland could net the parent company up to £125 million, analysts in Oslo are predicting. They put the price on Grieg Seafood’s Scottish operations at between a billion and 1.5 billion kroner – and possibly more if there is a bidding war. Danske Bank Markets analyst Ivar Bakken said Norskott Havbruk…
Read MoreFour fish farmers recognised in latest global sustainability index top 10
Four companies in the aquaculture sector have made it to the top 10 of an independent global index of sustainable food producers. The Coller FAIRR Protein Producer Index is based on an analysis of 60 of the world’s largest animal protein producers, ranking them on a number of factors including greenhouse gas emissions, water use,…
Read MoreBakkafrost bullish on Q3 results
Faroese fish farmer Bakkafrost, owners of the Scottish Salmon Company, today announced a third quarter EBIT of 102.7 million Danish kroner (DKK) (£12m) during what has been a difficult period for salmon farmers. Comparisons with Q3 2019 do not apply this time because during that period SSC was not an integral part of the group.…
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