OSLO: Marine Harvest, the world's largest fish farmer, posted core earnings above forecasts on Wednesday and said 2015 salmon production would be slightly lower than analysts have projected.
Its operational earnings before interest and taxes reached 1.03 billion Norwegian crowns ($137.1 million) in the fourth quarter, against expectations for 992 million crowns in a Reuter’s poll, down from 1.04 billion a year ago.
In a preliminary release on Jan. 19, Marine Harvest said it expected its operating earnings to come in at 990 million crowns.
"Marine Harvest delivered a strong operational EBIT in the fourth quarter of 2014. As a consequence of the good result, the Board has resolved a quarterly dividend of NOK 1.20 per share, Chief Executive Alf-Helge Aarskog said in the report.
Pretax profit was effected by big one-offs and fell to 373.5 million Norwegian crowns ($49.6 million) in the fourth quarter, down from 1.65 billion crowns a year earlier and below a forecast for 1.09 billion crowns in a Reuter’s poll.
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