Grieg Seafood ASA : Q2 2016 trading update, improved Shetland result, harvest mo
2016-07-28 17:55:00   copyfrom:    hits:

NORWAYTuesday, July 05, 2016GSF& 39;s return from Shetland operations has improved significantly throughout 2016 Cos

 

NORWAY
Tuesday, July 05, 2016
 

GSF's return from Shetland operations has improved significantly throughout 2016. Cost reduction was higher than anticipated for Q2 2016, and EBIT/kg for Shetland is estimated at NOK 20 for Q2

Earlier this year GSF initiated a strategic review of its Shetland operations. In this regard selling the region, or a part of the region, has been considered. The Board has concluded that the bids received do not reflect the overall improvements currently being materialized in the region. Consequently, a sale will not be conducted now.

GSF will continue exploring other strategic alternatives at Shetland. The company anticipate a significant potential for biological and operational synergies through improved coordination between the parties in the region


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