Norway Royal Salmon Q3 Earnings Hit Hard Due to Low Salmon Price, Production Costs
Norway Royal Salmon (NRS) reported an operational EBIT of NOK 35 million (USD $3.8 million) and an EBIT per kg of NOK 4.21 (USD $0.46) for the third quarter of fiscal year 2020, a noticeable drop off of NOK 131 and NOK 19.60 for Q3 2019, respectively.
NRS attributed the earnings dip to seasonally low salmon prices impacted by the COVID-19 pandemic. It also noted high production costs related to the harvest of a generation of fish...
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