OSLO: Norwegian fish farmer Grieg Seafood posted a rise in fourth quarter operating profits on Thursday thanks to a one-off gain, and said the market for salmon was strong and that it was considering paying a dividend.
"Limited supply-side growth is expected to result in a strong market in the period ahead, and the continuing weakness of the Norwegian krone (currency) is also likely to contribute to high prices," Grieg wrote in its earnings report.
"The Board will revert with a proposition of a potential dividend in connection with consideration of the annual accounts for 2014," it added. Final full-year numbers are normally due in the second quarter of the year.
The firm said its earnings before interest, taxes and fair value adjustments rose to 140 million Norwegian crowns ($18.63 million) in the quarter, although this included a 60 million crowns gain from the sale of a company.
Adjusted for the one-time gain, the result was only marginally ahead of a mean forecast for 79 million crown in earnings in a Reuters poll of analysts. In the same quarter of 2013, Grieg earned 87 million crowns.
The company repeated its forecast for harvesting 72,000 tonnes of salmon in 2015 and said 13,900 tonnes of this would come in the first quarter of the year.
In 2014, Grieg harvested 64,736 tonnes.
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