Bakkafrost worst STOXX performer after weak Q3

P/F Bakkafrost

09/11/2021 09:27

** Shares in Bakkafrost  BAKKA.OL  slump 12.7% after a
"horrible" Q3, with EBIT lagging expectations due the Faroe
Islands-based salmon farmer's disappointing performance in
Scotland  urn:newsml:reuters.com:*:nFWN2RZ2E3
    ** The Oslo-listed company's Q3 total operating EBIT drops
31% to DKK 70.5 million ($10.96 million), from a year ago 
    ** Fearnleys says Q3 was a "horrible quarter", points to the
EBIT being 76% below CS expectation of DKK 293 million
    ** "The miss is driven by challenging biology in Scotland
and a deliberate decision to advance harvest on the Faroes,
partly offset by stronger margins in the FOF segment," Fearnleys
says
    ** The share price is at its lowest in over 6 months, making
it the bottom performer on pan-European STOXX 600  .STOXX  index
as well as on the Oslo blue chips index  .OBX 
     
    
($1 = 6.4352 Danish crowns)

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))