November 18, 2008

Austevoll Seafood Q3 profit touches NOK 47.1 million

Norway's Austevoll Seafood ASA has reported a net profit of NOK 47.1 million (US$6.7 million) for its third quarter.

The result was attributed to an improved balance between raw material prices and market price. The third quarter net profit contrasts with the same period last year when the company lost NOK 986,000 (US$140,572).


Prices for fish oil, and frozen and canned products were higher than in the third quarter of 2007.


Austevoll expects a high demand for its products in the coming years, and a good level of activity is expected for the rest of 2008.


In October this year, Austevoll launched a takeover bid for Leroy Seafood Group ASA at NOK 59 per share, after raising its stake in Leroy to 43.42 percent.

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