Norway Royal Salmon (NRS) reported a year-on-year doubling of earnings in the third quarter, yet the company said its results were not as strong as it had hoped.

Challenges with smolt production and its takeover by aquaculture services giant NTS dragged down profit in the quarter.

Earnings before interest, taxation, depreciation and amortization (EBITDA) stood at NOK 126.2 million (€12.8 million/$14.9 million) in the quarter. Lower production costs and higher wholesale salmon prices pushed up operating revenue by 7 percent to NOK 1.5