Bakkafrost down on the stock exchange in Oslo: warning on accounts (-12.4%)
The salmon crisis causes Bakkafrost to collapse on Oslo Stock Exchange, after the warning on the second quarter accounts. The stock of the Norwegian company, which breeds salmon (mainly in the Faroe Islands) and world number three in fish farming, accused a down 12.4% to 560 Norwegian kroner, the worst of the Stoxx Europe 600 index; brings it back Il Sole 24 hours Radiocor.
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About, Ground frost announced that “preliminary results of the second quarter consolidated accounts indicate an Ebit lower than forecasts”, equal to about 353 million Danish kroner (the currency of the Faroes). At the origin of the trend there are ‘i extraordinarily low production volumes in the Faroes and the lowest average fish weight‘. Furthermore, farms in Scotland had a lower production in the second quarter than the first reflecting an earlier harvest, “to reduce the biological risk”.
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