Significant restructuring at Mowi's Canada East division and a lack of access to growout sites at its British Columbia operations continue to negatively impact the salmon farming giant's Canadian operations, according to its second quarter report.
The company reported a combined second quarter loss before interest and taxation (EBIT) of €29.1 million ($34.3 million) across both its east and west divisions in Canada, which is a 55 percent improvement from losses reported in the same quarter the year prior.
Canada operations stood out negatively amid Mowi reporting overall stable earnings in the second quarter globally, where other regions benefited from surging post-lockdown demand and improved spot prices.
