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Frozen Foods International News
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| Marine Harvest to Vote on Dividend |
Marine Harvest ASA, Oslo, Norway, has called an extraordinary
general meeting foe August 23 to vote on a proposed dividend of
NOK .20 a share, to be charged against other equity according to
the Company's balance sheet as of 31 December 2009, and to be
paid out Sept. 2.
This comes after the announcement July 21 that the Marine Harvest
Group achieved an operational EBIT of NOK 792 million in the
second quarter of 2010, compared to NOK 268 million in the
corresponding quarter of 2009. Earnings per share improved from
NOK 0.02 to NOK 0.21. Strong demand and reduced industry supply
lead to increasing prices also in the second quarter. However
Marine Harvest Norway showed a weak price achievement in the
quarter.
Marine Harvest reported operating revenues of NOK 3 562 million
(NOK 3 948 million) in the second quarter of 2010. Harvest
volumes were 68 263 tons compared to 83 960 tons in the second
quarter of 2009. Net earnings in the period were NOK 741 million
(NOK -61 million).
The group delivered an improved result in this quarter, supported
by continued strong demand, reduced global supply and increasing
prices. Our Norwegian operations showed a weak price achievement
due to a large contact portfolio with prices well below the spot
prices and a lower than normal share of superior fish. There is a
considerable potential for improved results the next quarters,
said CEO Alf-Helge Aarskog.
Cash flow from operations amounted to NOK 890 million (NOK 1 099
million) in the second quarter of 2010. Net financial items
amounted to a NOK -34 million (NOK -204 million). Marine Harvest
Norway achieved an operational EBIT per kg of NOK 11.22 (+8.42),
while Marine Harvest Canada and Marine Harvest Scotland reported
operational EBIT per kg of NOK 11.65 and NOK 9.35 respectively
(9.14 and 8.17). Marine Harvest VAP Europe reported an
operational EBIT-margin of 5.7% (+5.4%). Marine Harvest Chile
achieved an operational EBIT of NOK 17 million. Chilean farming
operations achieved a break-even operational EBIT.
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| 22-Jul-10 |
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