In its latest quarterly report, Norwegian salmon giant Grieg Seafood has boasted of yet another "best-ever quarter", buoyed by the record market conditions -- although it has had to reduce its harvest guidance for the year.
"As a continuation of the positive trend in Q1, the second quarter of 2022 also turned historic," wrote CEO Andreas Kvame. "Due to the strongest market the industry has seen, coupled with solid production, I am proud to present Grieg Seafood’s best result in a single quarter ever."
The company posted operational earnings before interest and taxes (EBIT) of NOK 987 million ($100m). It's a huge increase relative to the EBIT of NOK 44m generated in the same quarter of last year, and more than double its EBIT of NOK 453m in Q1, which had itself marked a record first quarter [...]
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