Saturday , January 16 2021

Leroy doubled the bottom line



Lerøy Seafood reported a profit after tax of NOK 557.27 million in the third quarter of 2018 compared to NOK 277.13 million in the same period last year.

Pre-tax profit was NOK 711.44 million, compared with NOK 351.61 million in the previous year.

Operating profit was NOK 712.91 million, compared with NOK 346.69 million over the previous year.

Operating profit before the biomass assessment was NOK 660.13 million, compared with NOK 861.31 million in the third quarter of 2017. The forecast was NOK 737 million.

Operating revenues amounted to NOK 4,455.68 million compared with NOK 4,373.29 million in the third quarter of 2017. The analysts' expectations were NOK 4,532 million.

According to the report, the decrease in the harvested volume of salmon and trout was the main reason for reducing earnings in the third quarter of 2018.

"Group production in the third quarter, up to now in the fourth quarter, shows a good biological situation. In the third quarter, the Group's permanent biomass was 6% lower than 30.06.2018 compared to the same period last year , which was 4% higher at the end of the third quarter of 2018 than in the third quarter of 2017 "message.

"We had good organic production in the third quarter. We harvested a little, but we achieved good production in a significant increase in biomass for further harvesting." The low volume, as previously reported, provides lower earnings this quarter However, we have facilitated good earnings and the continued positive development of the withdrawal costs over time. We are faced with a strong demand for quality seafood, the market is strong and we maintain our guide for a harvest volume of 166,000 tons Norway for 2018, "comments Leroy's head, Henning Beltestad.

Here is the report and the presentation.


Source link