March 7, 2008

Austevoll Seafood reports drop of 46 percent in 2007 profits
 

Norway's fish producer Austevoll Seafood has reported a severe decline of 46 percent in its fiscal 2007 profits.
 

The company's operating profits amounted to NOK 278 million (US$56 million), down 46 percent from 2006.

Pre-tax profits fell by 58 percent to NOK 194 million (US$37.8 million).

The company's sales in fish, fishmeal and fish oil also declined, and its fishing quotas in Peru and Chile were barely used up.

Austevoll Seafood, headquartered in Norway, is a globally integrated pelagic fishery group which operates fishing vessels with quotas worldwide. The company is listed on the Oslo Stock exchange.