Grieg Seafood: Tumbles as low prices, high costs hit Q3 estimates

Leroy Seafood ASA

21/10/2020 13:21

** Shares in Norwegian seafood maker Grieg Seafood  GRIA.OL 
fall 16% as the company said it expects a sharp turn to loss in
the operating result for Q3  urn:newsml:reuters.com:*:nFWN2HC0KS
    ** The company cites lower spot prices, higher costs,
discontinued operations in the Isle of Skye
    ** Grieg Seafood, which farms salmon and trout, said it will
postpone parts of its Newfoundland project, due to market
uncertainty and lower visibility following COVID-19
    ** Other Norwegian fish farming companies also fall:  Mowi
 MOWI.OL  and Leroy Seafood  LSG.OL  are down 3%
    ** Grieg Seafood shares fall 49% year-to-date to 71.45
Norwegian crowns, lowest since March 2018

 ((boleslaw.lasocki@tr.com))