Norwegian fish farm and fish feed company Cermaq (OSE: CEQ) reported of strong Q2 results. Operating revenues were up over 27% and EBIT more than a third to 2558 and 317 million NOK respectively. Net profit was down due to negative fair value assessment based on lower salmon spot price at the end of the second quarter.
Results improved in Chile and Mainstream Canada performed great. Increased share of value added products in EWOS, the brand name under which Cermaq produces fish feed, also contributed to the result. Cermaq’s share advanced over 10% for the day. More information is available here.
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