Norwegian seafood giant Leroy reported a significant fall in earnings in the second quarter of 2019, attributed to lower realized prices for its farming segment and a higher release from stock costs.
Earnings before interest, tax, amortization and demortization fell 12 percent to NOK 1 billion (€100 million/$111 million), despite a revenue increase of 6 percent to NOK 5.3 billion (€530 million/$588.3 million).
Earnings for the farming and wild-caught segments of Leroy's business both fell, with its aquaculture business yielding a 29 percent drop in earnings before interest and tax (EBIT) to NOK 595 million (€59.5
