Bakkafrost Issues Profit Warning for Q2 Amid ‘Extraordinarily Low Harvest Volumes’
Faroese salmon farmer Bakkafrost issued a profit warning on July 16 as the company faces “extraordinarily low harvest volumes in the Faroese farming segment” and reduced average weight of harvested fish.
The company said its preliminary results of its accounts for Q2 2023 indicated a lower-than-expected operational EBIT of DKK 353 million ($53 million).
Alongside the struggles in the Faroe Islands, the company saw lower harvest weights in Scotland, compared to the weights seen in the first quarter. Bakkafrost said the weight issues were linked...
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