Austevoll Seafood Q2 net profit up, future effect of Russian ban seen as temporary
SEAFOODNEWS.COM [Wall Street Journal] By Dominic Chopping - August 21, 2014 -
Austevoll Seafood ASA, the Norwegian fishing and food processing company, Wednesday posted a rise in second quarter net profit but said sanctions imposed by Russia will have an impact on the autumn season, though it remains too early to predict the scope of this impact.
Net profit totaled NOK134.4 million, up from NOK112.1 million last year, on revenue of NOK3.5 billion. Revenue last year was NOK2.75 billion.
The Russian ban on import of Norwegian salmon and trout is expected in the short term to present a challenge to the Norwegian seafood industry, and measures are under way to increase sales to alternative markets.
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