Norwegian salmon processor's earnings drop in challenging year

Pure Norwegian Seafood reported weaker earnings in its last fiscal year as it struggled with biological challenges in its farming division.

Operating profit for processor Pure Norwegian Seafood dropped 16.1 percent year-on-year from NOK 11.2 million (€1.2 million/$1.4 million) to NOK 9.4 million (€991,766/$1.2 million).

Net profit was slashed by 31.3 percent to NOK 4.6 million (€485,332/$568,588), while its operating margin declined from 7.8 to 4.7 percent year-on-year.

Revenues increased 40 percent from NOK 142.8 million (€15.1 million/$17.7 million) to close to NOK 200 million (€21.1