Foxsea
Well-Known Member
Keep up the good fight - the corporate bandits are on the run!!!
http://alexandramorton.typepad.com/alexandra_morton/2012/06/how-viable-is-salmon-farming-.html
“Marine Harvest’s ability to honor loan conditions is being called into question after third-quarter net income declined 97 percent”
“Marine Harvest has a lot of debt and they could be in breach of their covenants in a couple of quarters. They will lose money -- most likely it won’t improve next year.”
"For Marine Harvest Canada, the 2011 profit was affected by exceptional customer
claims and discards at harvesting totalling NOK 67.7 million due to the parasite Kudoa thyrsites. A restructuring plan for Canadian operations led to restructuring costs of NOK 23.4 million"
"Operating revenues for Marine Harvest Canada were NOK 1 182 million
in 2011 (NOK 1 371 million). The average price achieved in CAD was 11% lower than in 2010 due to high presence of Kudoa combined with a general reduction in the market price. Total costs related to discards and claims as a result of soft flesh (Kudoa), amounted to NOK 68 million/NOK 2.00 per kilo harvested in 2011 (NOK 24 million/0.72 per kilo harvested)."Download MH_AnnualReport_2011_Web copy 2.pdf (6264.7K)
Despite closing farms, buying their own shares, harvesting more fish, stocking 7.5 million less smolts and laying people off - Marine Harvest, the biggest salmon farming company in the world and the biggest company in the 98% Norwegian salmon farming industry in BC - is still going down.
“The world's largest fish farmer, Marine Harvest, said first-quarter operating profit fell sharply even as harvested volumes were ahead of plan as salmon prices fell.” Reuters
Please continue to support Alex's research to get these guys OUT, for good!
http://alexandramorton.typepad.com/alexandra_morton/2012/06/how-viable-is-salmon-farming-.html
“Marine Harvest’s ability to honor loan conditions is being called into question after third-quarter net income declined 97 percent”
“Marine Harvest has a lot of debt and they could be in breach of their covenants in a couple of quarters. They will lose money -- most likely it won’t improve next year.”
"For Marine Harvest Canada, the 2011 profit was affected by exceptional customer
claims and discards at harvesting totalling NOK 67.7 million due to the parasite Kudoa thyrsites. A restructuring plan for Canadian operations led to restructuring costs of NOK 23.4 million"
"Operating revenues for Marine Harvest Canada were NOK 1 182 million
in 2011 (NOK 1 371 million). The average price achieved in CAD was 11% lower than in 2010 due to high presence of Kudoa combined with a general reduction in the market price. Total costs related to discards and claims as a result of soft flesh (Kudoa), amounted to NOK 68 million/NOK 2.00 per kilo harvested in 2011 (NOK 24 million/0.72 per kilo harvested)."Download MH_AnnualReport_2011_Web copy 2.pdf (6264.7K)
Despite closing farms, buying their own shares, harvesting more fish, stocking 7.5 million less smolts and laying people off - Marine Harvest, the biggest salmon farming company in the world and the biggest company in the 98% Norwegian salmon farming industry in BC - is still going down.
“The world's largest fish farmer, Marine Harvest, said first-quarter operating profit fell sharply even as harvested volumes were ahead of plan as salmon prices fell.” Reuters
Please continue to support Alex's research to get these guys OUT, for good!
