Mowi, the world's biggest salmon farmer, reported a drop in earnings in the fourth quarter as harvests fell short of company expectations.

Earnings were still higher than market expectations, however.

According to estimates obtained by stock market research firm Infront, an operating profit of €195 million ($212.5 million) was expected in advance.

The drop also no doubt reflected an unexpected volume increase in the same quarter a year previous.

Operational earnings before interest and tax (EBIT) for the group were down 15 percent year-on-year in the fourth quarter of 2023 to approximately €203 million ($221.2