Marine Farms achieved total sales in the amount of NOK 118 mill in the 1st quarter of 2006, an increase of some NOK 17 mill compared to the same period last year. EBIT before provisions ended at NOK 16.4 mill, compared to NOK 4.5 mill last year. The good result is mainly due to continued high salmon prices together with a more efficient production. Normally, 1st quarter is the weakest quarter for Marine Farms, with low seawater temperatures to grow the fish.
Attached is an updated presentation of the Marine Farms group. Mr. Bjørn Myrseth presented parts of this for the General Meeting in Marine Farms ASA on Monday 22. of May 2006.
Operating profit (EBIT) before provisions ended at NOK 49.5 mill, which is the best result ever for the group and NOK 53.5 mill better than the previous year. The result after tax was NOK 30.2 mill, an improvement of NOK 73.3 mill compared to 2004.
The Board of Directors of Marine Farms ASA has decided to apply for a stock listing on the Oslo Stock Exchange. The company has already done some preparations and will immediately start the application process.