Austevoll Seafood posts decrease in revenue and operating profit

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Demanding seafood market.

In an Oslo Stock Exchange announcement on Wednesday, the fisheries conglomerate and Lerøy majority owner Austevoll Seafood writes that it achieved an EBIT of EUR 40 million, down from EUR 52 million in Q3 2019.

“A decline in sales and earnings is the main explanation for lower prices for Atlantic salmon, trout and whitefish compared to the same period last year,” Austevoll Seafood wrote.

Read more: Lerøy posts demanding Q3 results, but better than what investment banks expected

The group had revenues of EUR 521 million in the quarter, compared to EUR 542 million in the third quarter of 2019.