Mitsubishi-owned Cermaq Norway saw its operating profit increase 3.6 percent to NOK 1.2 billion (€119.5 million/$134 million) in it's latest financial year, despite the impacts of the COVID-19 pandemic.

A focus on cost reduction combined with good biology, were among the reasons for the improved result, according to Cermaq Norway Managing Director, Knut Ellekjaer.

Mitsubishi-owned Cermaq Group is one of the world's largest salmon producers, with sizeable production in Norway, Chile and Canada.