Chilean salmon farmer Nova Austral's fourth quarter earnings sank further into the red as costs continued to pile up over both legal and biological setbacks.

The group posted losses before interest, tax, depreciation and amortization of $16.9 million (€14 million), down from a positive result of $4.1 million (€3.4 million) for the same period the year prior.

Revenues also dipped 29 percent year on year to $29.2