Lerøy Seafood announces a net profit of 601.7 million kroner in Q1 2016, compared with 37.9 million kroner in the same period last year. According to TDN Finans was expecting a profit of 417 million.
Earnings per share were NOK 7.9, compared with 5.2 million at the same crossroads in 2015. There were expecting a profit of 7.69 per share.
the result before tax was 783.8 million kroner, compared with 41.8 million the year before. Average expectations of analysts indicated a profit before tax of 575 million.
The operating profit was 756.0 million, compared with NOK 55.8 million the previous year. The expectation was 580 million.
Operating profit before fair value adjustment of biomass was NOK 584.5 million, compared to 403.9 million kroner in Q1 2015. Here was the expectation of 580 million.
value adjustment of biomass was NOK 171.5 million compared to minus NOK 348.1 million the year before.
revenues amounted to 3815.3 million, compared to 3,268.3 million in Q1 2015 . analysts’ expectations were here on 3.520 million.
– the price of Atlantic salmon was very high in the first quarter and prices of trout has improved considerably from 2015. With good price achievement as the main driver, the operating profit in the first quarter of 2016 the highest in the Group’s history. We are pleased with the results, but see there are many areas we can improve. It is our focus, and that’s what we work hard, says CEO Henning Beltestad.
For 2016 the group expects today a harvested volume of 183,000 GWT including share of LSG its volume from associated companies.
the management and Board of Directors currently anticipates, based on the potential for improved productivity and the good market prospects, the Group’s earnings in 2016 will be significantly higher than last year.
Here is the report and presentation.
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