Bakkafrost falls as rising fish mortality hits Scotland business

P/F Bakkafrost

22/08/2023 08:52

** Shares in Bakkafrost  BAKKA.OL  fall more than 5% after
the Norwegian fish farmer warned of environmental challenges in
its operations in Scotland, which will affect its yearly harvest
    ** "They have a negative outlook on Scotland into Q3 and
hence the stock is down", Kepler Cheuvreux analyst Christian
Nordby says
    ** The company says environmental issues, including higher
fish mortality, might have a 5,000-6,000 tonnes impact on
harvest in Scotland for the year
    ** "Late in Q2 and continuing into Q3, biological
development became more challenging", Bakkafrost says 
    ** In July Bakkafrost pre-realesed operational EBIT for the
second quarter and 353 million Norwegian crowns ($33 million)
and cut outlook for FY harvest volume
    ** The stock is among bottom movers on STOXX 600  .STOXX ,
down 11% year to date
    
    


($1 = 10.5661 Norwegian crowns)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com))