Marine Harvest preliminary Q3 core earnings drop 86 pct

OSLO Tue Oct 9, 2012 1:29am EDT

OSLO Oct 9 (Reuters) - Marine Harvest, the world's biggest Atlantic salmon producer, said core earnings fell about 86 percent in the third quarter but it harvested volumes slightly above its July guidance during the quarter.

Operational earnings before interest and taxes (EBIT) for the group declined to about 65 million Norwegian crowns ($11.39 million) in the July-September period from 457 million crowns a year ago, it said on Tuesday in a preliminary earnings update.

Total volumes was 93,000 tonnes of fish compared to its guidance for 90,000 tonnes.

"The results for the Chilean and Canadian activities were adversely impacted by the challenging market conditions during the quarter," it said.

Marine Harvest, controlled by shipping tycoon John Fredriksen, it due to report its full quarterly report on Oct. 26.

($1 = 5.7045 Norwegian crowns)

(Reporting by Victoria Klesty; Editing by Matt Driskill)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.