Parasites, jellyfish and ulcers continue to plague Grieg's profits

Profit at salmon farmer Grieg Seafood continued to be pummeled by biological events at its Norwegian farms in the fourth quarter of 2023.

Revenue rose 18.2 percent to NOK 1937.7 million (€171.1 million/$185.4 million), but did little to soften the hit.

The company posted a NOK 67 million (€5.9 million/$6.4 million) loss in operational earnings before interest and tax, compared to a profit of NOK 156 million (€13.8 million/$14.9 million) in the corresponding period in 2022.

Losses came from weak biological performance in Grieg's northern Norway operations, where harvests were 15 percent below guidance at 10,387 metric tons.