Tuesday, February 22, 2011

Norway’s AKVA group continue with reduced losses for 2010

Norwegian fish farm equipment and services company, AKVA Group has reported continued, but slightly reduced losses for quarter 4 and the full year 2010. Operating revenue for the AKVA group in the 4th quarter of 2010 was 195.9 MNOK (UK£21 million) versus 142.9 MNOK in Q4 2009. Operating revenue for the full year 2010 was 742.5 MNOK (UK£80 million) versus 599.3 MNOK in 2009.

Operating profit was -8.7 MNOK (-UK£940k) in 4Q compared to -16.1 MNOK in 4Q last year. The company said the result was negatively affected by increased costs on recirculation projects of which the major part related to two recirculation projects in Norway. Both projects are in the final stages and are operating. Profit before tax for the full year 2010 was -50.9 MNOK (-52.0 in 2009) after allowing for net financial items of -9.9 MNOK (-9.6). Net loss was -37.6 MNOK (-39.1 in 2009). Read more ...

This blog is written by Martin Little The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers.

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