Posts Tagged ‘Bakkafrost’
Bakkafrost invests £360m in future
BAKKAFROST, the big Faroese salmon farming company, today unveiled plans to invest at least three billion Danish kroners (about £360 million) in its operations over the next five years. The announcement came as the company announced its results for the second quarter, which were described by CEO Regin Jacobsen as good despite a fall in…
Read MoreBakkafrost plans new biogas plant
BAKKAFROST, the largest salmon farming company in the Faroe Islands, has announced plans to invest in a new biogas plant, working in collaboration with other Faroese fish farmers and local dairy farmers. The plant will use waste products from fish and dairy farming to produce energy and fertiliser. The project is one of a number…
Read MoreBakkafrost buys US salmon importer
FAROESE salmon farmer Bakkafrost has entered into a conditional share purchase agreement with the owners of North Landing to purchase all outstanding shares of the US salmon importer. Bakkafrost said it wanted to establish an American base to better serve its US customers. The deal is expected to be closed at the end of May.…
Read MoreBakkafrost Q1 down, but outlook good
THE Bakkafrost Group, the largest salmon farming company in the Faroe Islands, today unveiled a first quarter operating profit (EBIT) of 268.2 million Danish kroners (£31.7 million) for the first three months of this year. The figure is down on the Q1 performance for same period in 2017 when the EBIT was DKK 335.5 million, but…
Read MoreBakkafrost chief speaks of landmark year
BAKKAFROST chairman Runi M. Hansen has described 2017 as a landmark year in the Faroese salmon farming company\’s history. He said in his annual statement to shareholders and employees that the highlight was the merging of seven factories on the Faroe Islands into one modern facility. But it was also a satisfactory year in financial…
Read MoreBakkafrost hails ‘excellent’ Q4 results
THE Faroese salmon farming company Bakkafrost Group today announced a total operating profit (EBIT) of 331.2 million Danish kroners in the final quarter of 2017 – down from the corresponding 2016 quarter of DKK 349.6 million, mainly due to the fall in salmon prices. The Q4 harvested volumes totalled 11,5000 tonnes (12,900 tonnes in Q4 2016) gutted weight, while combined farming and VAP segments made…
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