High prices and cost reductions drove the Norwegian salmon producer Grieg Seafood’s earnings up in the first quarter of this year.
The company’s overall earnings before interest, tax, depreciation and amortization (EBITDA) surged 63 percent to NOK 358.7 million (€36.5 million/$40.9 million) in the first quarter, from NOK 220.3 million (€22.4 million/$25.1 million) during the same period last year.
Grieg also posted stronger operating revenues amounting to NOK 1.65 billion (€168.1 million/$188.4 million), an 11 percent increase from the year prior.
