Leroy's profit was at a virtual standstill in the fourth quarter of 2023 as cost challenges in its farming division masked a healthy rise in revenue.
Leroy's operational earnings before interest, tax, depreciation and amortization rose by 1 percent to NOK 1.2 billion (€103.2 million/$111.7 million).
This was despite a 16 percent increase in income to NOK 8.2 billion (€719.7 million/$779.1 million).
Like Grieg Seafood before it, the company's salmon and trout farming division experienced challenges related to string jellyfish and lost feeding days at its Leroy Aurora operations in the north of Norway and accelerated harvest in Leroy Sjotroll in the west.
