March 3, 2008

Grieg Seafood reports increase of revenue in 2007 Q4
 

Norwegian seafood company Grieg Seafood ASA has reported an increase in operating revenue but a drop in pre-tax profits in the fourth quarter of 2007.

The company's operating revenue in the fourth quarter amounted to NOK 287.5 million (US$55.2 million), up from NOK 156.3 million (US$30 million) in the same period in 2006.

Annual operating revenue has increased to NOK 1.07 billion (US$205.1 million) from NOK 543.5 million (US$104.4 million) in 2006.

The company's pre-tax profits had also dropped to NOK 77.2 million (US$15 million).

Last year, the company had suffered decreased production due to Pancreas disease (PD).

Grieg Seafood ASA specialises on salmon and trout, and has operations in Norway, Canada and the UK.