TMCnet News
Marine Farms ASA reports operating loss of NOK18.66m(Nordic Business Report Via Acquire Media NewsEdge) Norwegian aquaculture company Marine Farms ASA (OSE:MAFA) issued its year-end report on Thursday (26 February), posting an operating loss (EBIT) of NOK18.66m, as compared to a profit of NOK79.86m in 2007. The weaker result was due to lower profitability for the company's seabass/seabream operation in Spain, increased costs for the cobia business in Belize and in Vietnam and a lower NOK/GBP exchange rate. Operating revenues amounted to NOK754.76m, as compared to NOK735.42m in the previous year. Earnings per share came to a loss of NOK0.63, down from a profit of NOK0.77 in 2007. Marine Farms, headquartered in Bergen, Norway, has fish farming operations in Norway, the UK, Spain, Belize and Vietnam. The company has some 500 employees. One British pound (GBP) is worth approximately 9.83 Norwegian kroner (NOK). ((Comments on this story may be sent to [email protected])) Copyright ? 2009 M2 Communications Ltd. |