November 15, 2007

Norway's Marine Farms sales up by 18 percent

Norway-based Marine Farms reported sales increase of 18 percent in the third quarter year-on-year.

The group announced that its current financial position is strong with an equity amounting to US$86.5 million at the end of September 2007. The expected free cash and available credit facility is around US$64.7 million. 

Marine Farms ASA combines salmon farming with profitable farming of other marine species. The company is also looking on new opportunities in the marine species such as cobia. It has quarters in UK and Spain.