Salmon farmer Grieg Seafood suffered another bad quarter for the three months to June 30 as continued high production costs hampered financial earnings.

Operating earnings before interest and tax (EBIT) fell 44.5 percent year-on-year to NOK 547.3 million (€47.3 million/$50.9 million) due in large part to ongoing "challenging biological conditions", particularly in the company's northern Norway farms.

A meager 0.9 percent increase in revenue to NOK 2.4 billion (€207 million/$223 million), was unable to make up for the increase in costs.