AquaGen pre-tax profit up 20%

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Trondheim-based roe supplier, AquaGen, has reported a 20 percent rise in pre-tax profit for 2017, a period in which it bought salmon-breeder Profunda and became a majority shareholder in genetics outfit, Danish AquaSearch ova.

Company pre-tax profit soared to NOK 98.3 million (EUR 10.2 million) from NOK 81.4 million (EUR 8.4 million) in 2016, although company net profit fell to NOK 87.6 million (EUR 9.1 million) from NOK 92.8 million (EUR 9.6 million ) in 2016 despite turnover that rose 8.3 percent to NOK 474.3 million (EUR 49.1 million).

AquaGen breeds salmon and delivers fertilized eggs and eye-ova to the global marine aquaculture industry. Its new business, Profunda, saw two of its sites close in 2017 after the detection of disease among brood fish.

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