Leroy, Austevoll Seafood rise after solid Q1 earnings

Austevoll Seafood ASA

15/05/2024 09:22

** Shares in Leroy Seafood  LSG.OL  and Austevoll Seafood
 AUSS.OL  rise 4.4% and 3.4% respectively after the Norwegian
fish farmers posted their Q1 numbers
    ** Austevoll, that owns 53% of Leroy, reports Q1 operating
income of NOK 8.4 billion  ($777.86 million), beating the
analyst poll of NOK 8.1 billion
    ** The company says JV Norskott Havbruk shows substantial
operational improvement y/y, while Pelagia, another JV, achieves
a high-production season, which promises strong future sales
volumes
    ** "This level of production provides a good basis for sales
volumes in the coming quarters," Austevoll says
    ** Leroy says Farming segment delivers strong Q1, with
notable biological development and significant improvement in
biology and earnings at Scottish Sea Farms
    ** "Considering the very cold sea temperatures, our fish are
growing well," Leroy CEO Henning Beltestad says
    ** The company's Wild Catch segment benefits from high cod
prices and good catch volumes, it says

($1 = 10.7641 Norwegian crowns)

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))