Cermaq Q2 results reflect continuing high costs in Chile
SEAFOODNEWS.COM [SCOM] - July 18, 2014 -
Cermaq reported a lower Q2 profit compared with year-ago as a result of continued high high costs in Chile.
EBIT pre fair value and non-recurring items fell to 123 million Norwegian kroner ($19.8 million) from 137 million kroner last year.
Cermaq Norway delivered an EBIT pre fair value of 81 million kroner compared to 122 million kroner last year.
Cermaq Canada reported an EBIT pre fair value of 52 million kroner, a reduction of 2 million kroner from last year
Cermaq Chile's earnings improved from the previous year. The EBIT pre fair value was 5 million kroner whereas EBIT for the same quarter last year was a loss of 6 million kroner.
2014 overall harvest volume estimate is 158,000 tonnes
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