Mogster family earned €365 million mostly from salmon last year

News
804

The Møgster family has built a fortune on “fish & ships” which has paid off.

Last year, results for the holding company Laco was EUR 365.5 million before tax. This was driven by fish through Laco, which is majority shareholder in Austevoll Seafood. Austevoll Seafood is majority owner in Leroy. The shipping business DOF, has struggled heavily for four or five years in a row.

Last year’s profit represents more than a threefold increase from the previous year.

“People must have food, but the good times we have experienced with the good prices that have been, I think will normalise. We will get down to normal margins. There is now a lot of investment in other countries, which means that it will be produced more elsewhere. It is also invested in land-based farming. Someone is going to make it,” said father of the family Helge Møgster to Dagens Næringsliv.

Lerøy has applied for new and resource-intensive aquaculture concepts through development licenses.

“Some will do it, but many will fail,” said Møgster to DN.