This morning, Morpol reported earnings before interest and taxes (EBIT) before value adjustment of biomass for the first quarter of 2011 at €6.2 million ($8.9 million). The operating result for the corresponding quarter last year was €5.2 million ($7.4 million).
Despite the improvement Hatlebrekke wasn’t entirely impressed.
“The result’s a little on the weak side,” he told IntraFish.
He had estimated a result of €10 million ($14.3 million).
“But it ended up at €6.2 million ($8.9 million) and if we take into account the costs of acquiring the aquaculture company in Jokelfjord, it would then be around €7.2
