Iceland Seafood International (ISI) saw its losses widen further in the first quarter as it continued to be impacted by price increases, especially on salmon.

The group posted a net loss for the quarter of €2.2 million ($2.4 million) compared with an €800,000 million ($865,563) loss in the same period a year ago. Normalized profit before tax was down 62 percent to €1 million ($1.1 million).

The group blamed the drop in profit on the "steep" increase in salmon prices during the quarter, which "severely impacted" the profitability of both Ahumados Dominguez in Spain and Oceanpath in Ireland.