Posts Tagged ‘Norway Royal Salmon’
NRS sells southern sites to local farmers
ONE of Norway’s biggest salmon producers, Norway Royal Salmon, has sold its southern farming operations to a group of local farmers. Norway Royal Salmon (NRS) agreed a deal with Tombre Fiskeanlegg, Lingalaks and Eidesvik Laks to sell its subsidiary Sør Farming for NOK 1.2 billion (about £110 million). Sør Farming has six salmon licences amounting…
Read MorePower plants ‘may have caused algae outbreak’
THE algae bloom outbreak which cost several Norwegian salmon farming companies dearly this year was partly caused by hydro-electric power plants in the area, a leading marine scientist has claimed. Millions of fish worth at least 2.5 billion kroner were lost during May and June in what was described as the worst algae attack for…
Read MoreAlgae outbreak dents NRS profits
BIOLOGICAL issues such as the algae bloom outbreak last May have hit the second quarter profit and earnings of Norway Royal Salmon, figures show today. The company has reported an operating profit of NOK 116 million (£10.5 million) compared to NOK 181 million (£16.4 million) for Q2 last year. The profit after tax was NOK…
Read MoreNRS profits drop despite higher revenues
DESPITE a near seven per cent increase in operating revenues for the first quarter of 2019, the fish farmer Norway Royal Salmon took a big knock on its operating profits or EBIT, its figures show today. Revenue rose from NOK 1,391.8 million a year ago to NOK 1,486 million this year, an increase of 6.8…
Read MoreSalmon farmers a good bet, says bank
A LEADING Nordic financial institution has said it expects salmon farming companies to continue to show an increase in earnings this year. Danske Banke, which is Danish owned and has operations in at least 16 countries, believes prices are expected to rise or at least remain stable this year and this means salmon stocks constituted…
Read MoreRoyal results for Norway farmer
NORWAY Royal Salmon (NRS) today reported the highest operational EBIT (earnings before interest and tax) in the history of the company for both the final quarter of 2018 and the full financial year. The fourth quarter EBIT was 232 million kroner, representing an EBIT per kg of NOK 17.73. The corresponding figures for the same…
Read MoreTromsø may overturn 'scary' farm ban
A CONTROVERSIAL decision by Tromsø City council last month to ban any further open fish farming inside its municipal zone may yet be overturned. The Labour party on the council, which makes up the largest political group inside a largely left leaning coalition, has said it will now look again at the ruling, which stipulates…
Read MoreNorway Royal Salmon profits slump
NORWAY Royal Salmon saw its 2018 third quarter operational EBIT fall by 82 per cent year-on-year, partly the result of an outbreak of ISA salmon disease and lower harvests. The company today reported an EBIT of 35 million Norwegian kroners (NOK) compared to NOK 192 million in Q3 2017. CEO Charles Høstlund said: ‘During the…
Read MoreIceland’s premier steps into fish farm row
ICELAND’S fisheries minister is to submit a bill to the country’s parliament today amending the Aquaculture Act to ensure that the two companies who have lost their licences to expand salmon farming in the Westfjords can temporarily continue their operations. The minister, Fiskeldi Kristján Þór Júlíusson, says he wants to be able to grant provisional…
Read MoreNorway fish farmers bid millions for licences
NORWAY’S fish farmers have spent tens of billions of kroners at auction buying new salmon production licences as a prelude to a major expansion of the industry. The result is that 160 coastal communities will received at least NOK 2 billion (almost £200 million) in development funding. The Oslo government decreed two years ago that…
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