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Leroy Seafood Group ASA (LSG.OL)

LSG.OL on Oslo Stock Exchange

51.85NOK
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Latest Key Developments (Source: Significant Developments)

Leroey Seafood Q2 core earnings miss forecast
Thursday, 24 Aug 2017 12:30am EDT 

Aug 24 (Reuters) - Leroy Seafood Group Asa :q2 ebit before fair value adjustment nok 801 million (Reuters poll nok 885 million).q2 revenue nok 4,224 million (Reuters poll nok 4,616 million).For 2017 as a whole, harvest volume is expected to be higher than in 2016.Leroey seafood sees 2017 harvest volume 175,000 tonnes including associates versus previous guidance of 180,000 tonnes.Board of directors is positive to market outlook, and currently expects to see an improvement in result in q3 2017 when compared with q2 2017, and a significantly better result for 2017 than in 2016.Sees a significantly better result for 2017 than in 2016..Lice prevention costs expected to increase in 2017, while costs related to treatment are expected to fall.  Full Article

Leroy Seafood Q1 core earnings beat forecast, sees weaker Q2
Thursday, 11 May 2017 12:30am EDT 

May 11 (Reuters) - Leroy Seafood Group Asa :Q1 ebit before fair value adjustment NOK 1.28 billion (Reuters poll NOK 1.05 billion).Q1 total revenue NOK 5.46 billion (Reuters poll NOK 4.93 billion).sees 2017 harvest volume 180,000 tonnes including associates versus previous guidance of 180,000 tonnes.harvested volume of salmon and trout will be significantly lower in Q2 2017 when compared with both Q1 2017 and Q2 2016.Board of directors therefore expects results before fair value adjustments in Q2 2017 to be substantially lower than in Q1 2017, but at same time that results before fair value adjustments for 2017 to be higher than in 2016.group sees global salmon industry supply +3.3 percent in 2017 versus +1.7 percent previously.says market outlook supports strong prices.says expected contract share Q2 is about 40 percent, with significantly lower harvest volume than in q1/17.  Full Article

Nordea Markets maintains "sell" on most salmon shares, cuts price targets
Friday, 31 Mar 2017 04:43am EDT 

Nordea Markets: Nordea Markets cuts its 2017-19 salmon price forecasts by NOK 3 per kilo to NOK 57, NOK 51 and NOK 50, respectively . also cuts share price targets and maintains a general sell rating for most salmon companies listed in Oslo . maintains buy recommendations for Austevoll seafood, cuts share price target to NOK 75 from NOK 80 . maintains hold on Bakkafrost, cuts share price target to NOK 280 from NOK 350 . keeps sell on Marine Harvest , Lerøy Seafood , Salmar , Grieg Seafood and Norway Royal Salmon . Share price target cut to NOK 115 from NOK 140 on Marine Harvest, to 380 from 440 on Lerøy, to 180 from 215 on Salmar, to 65 from 80 on Grieg and to 140 from 175 on Norway Royal Salmon . says the salmon price dropped 27 pct in the first two months of 2017 despite lower y/y supply growth . The main reasons for this seem to be: 1) buyers being more cautious after the massive 2016 losses for processors; 2) lower end-user demand owing to a lack of campaigns and higher prices; and 3) signs of higher supply growth Further company coverage: [MHG.OL][GSFO.OL][LSG.OL][BAKKA.OL][SALM.OL][NRSM.OL][AUSS.OL] (Reporting By Ole Petter Skonnord) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Leroey Seafood not satisfied with proposed cod trawler regulations
Friday, 17 Mar 2017 07:14am EDT 

Leroey Seafood Group Asa : Says not satisfied with government's proposal for regulatory change of cod trawlers, which implies a reduction of the group's basic quota of 20 percent . Says main elements in the proposal seem to be that the government proposes to remove the so-called trawler fleet land-lock obligation system, partly in return for payment of financial compensation and partly a reduction in the company's basic quota . Plans to study proposal in detail and assess it in its entirety, including legal aspects .Hopes that company's input to further political discussions will be heard, so that final resolution provides best possible grounds for future development of our sector.  Full Article

Leroey Seafood sees 2017 salmon production cost in line with 2016
Tuesday, 21 Feb 2017 03:13am EST 

Leroey Seafood Group executives made the following statements during the company's fourth-quarter earnings presentation on Tuesday: CEO Henning Beltestad: expects significant variations in price of salmon . CEO: Current high salmon prices trigger some resistance among customers . CFO Sjur Malm: expects 2017 production cost per kilo of salmon to be in line with 2016 . CFO: Board wants gradual increase of dividends Further company coverage: [LSG.OL] (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Leroy Seafood Q4 operating result in line, sees strong Q1
Tuesday, 21 Feb 2017 12:30am EST 

Leroy Seafood Group Asa : q4 ebit before fair value adjustment NOK 1,017 million compared with NOK 353 million in Q4 2015 (Reuters poll NOK 1.01 billion) . q4 total revenue NOK 4,924 million compared with NOK 3,564 million in the same period of 2015 (Reuters poll NOK 4.91 billion) . sees 2017 harvest volume 180,000 tonnes including associates versus previous guidance of 180,000 tonnes . Based on estimated harvest volume and good market prospects, group currently expects earnings in q1 2017 to be strong . proposes 2016 dividend of nok 13 per share (Reuters poll nok 17.8) . Biomass at sea end q4/16 at 108,413 tonnes versus 108,270 tonnes end q4/15 . sees global salmon industry supply up 1.7 percent in 2017 .says expected contract share in q1 is about 30 percent, with higher harvest volume than q1 2016.  Full Article

Havfisk recommends shareholders to accpet Lerøy offer
Wednesday, 28 Sep 2016 03:57am EDT 

Havfisk ASA : Said on Tuesday Board's consideration is that Lerøy Seafood Group offer is fair and hence recommends Havfisk's shareholders to accept mandatory offer .On Sept. 16 Lerøy launched mandatory offer to shareholders in Havfisk, offering to acquire Havfisk shares at offer price of 36.50 Norwegian crowns ($4.49) per share [nGNE7MBJv2].  Full Article

Lerøy buys additional 2.2 million shares in Havfisk in market
Friday, 26 Aug 2016 05:21am EDT 

Havfisk ASA : Lerøy Seafood has acquired an additional 2,207,410 shares in Havfisk in market . Lerøy also intend to make a voluntary offer on remaining outstanding shares in Norway Seafoods at a price of 1.00 Norwegian crowns per share . Lerøy's aggregate shareholding in havfisk will after completion comprise to 67 percent of shares and voting rights in Havfisk .Lerøy's aggregate shareholding in Norway Seafoods will after completion comprise to 73.6 percent of shares and voting rights in Norway Seafoods.  Full Article

Ministry approves Lerøy acquisition of Havfisk and Norway Seafoods
Thursday, 25 Aug 2016 02:59am EDT 

Havfisk ASA : Says Lerøy acquisition of Havfisk and Norway Seafoods has been approved by Norway Ministry of Trade, Industry and Fisheries .Completion of sale of Havfisk will trigger a mandatory offer for remaining shares in Havfisk at 36.50 Norwegian crowns per share.  Full Article

Leroy Seafood q2 beats forecast, cuts 2016 output guidance
Thursday, 18 Aug 2016 12:30am EDT 

Leroy Seafood Group Asa : q2 ebit before fair value adjustment nok 760 million (Reuters poll nok 751 million) . sees 2016 harvest volume 173,000 tonnes including associates versus previous guidance 183,000 tonnes . Currently expect group's earnings in second half of 2016 to be considerably better than in equivalent period last year .now more confident that the measures taken are proving effective and that costs in connection with treatment will fall going forward.  Full Article

BRIEF-Leroy Seafood Q1 core earnings beat forecast, sees weaker Q2

* Q1 ebit before fair value adjustment NOK 1.28 billion (Reuters poll NOK 1.05 billion)