SalMar-owned Icelandic Salmon reported an increase in revenue but a drop in earnings before interest and taxes (EBIT) due to higher costs during the third quarter.

The group reported revenue of €42 million ($45 million), an increase of 23 percent compared with the same period last year.

The company reported an EBIT of €3 million ($3.2 million), down from €3.7 million ($3.9 million) during the same quarter last year, resulting in an EBIT per kilo of €0.73 ($0.78) compared to €0.99