Grieg Seafood nears eight-year-low as environmental issues hamper Q2

Grieg Seafood ASA

21/08/2024 08:41

** Shares in Grieg Seafood  GSFG.OL  slump 15% after the
Norwegian salmon farmer reported Q2 numbers below estimates, hit
by "continued biological challenges"
        ** Grieg Seafood posts an operational EBIT loss at 35
million Norwegian crowns ($3.33 million), against the IBES
estimate of a profit of 249.5 million crowns
  
    ** It says the Spiro parasite hit its Finnmark unit,
combined with jellyfish issues that also hampered its peer
Salmar earlier in the year
    ** "In Canada, our operations in British Columbia were
impacted by events of extraordinary low dissolved oxygen levels,
resulting in significant reduced survival rates", the company
adds 
        ** The fish farming industry in Norway has been 
    facing
     environmental issues in 2024, largely due to the effects of
climate change
     ** Grieg Seafood share is at its lowest since September 16,
2016
    
($1 = 10.5114 Norwegian crowns)

 (Reporting by Agnieszka Oleńska)
 ((Agnieszka.Olenska@thomsonreuters.com;))