Leroy ‘not satisfied’ with its farming operations despite solid first quarter earnings

Norwegian aquaculture and fishing giant Leroy Seafood Group saw its operating profit climb 11 percent in the first quarter of 2023 but still lamented a “challenging situation in the farming segment.”

Leroy, which has a presence in both wild whitefish harvesting and salmon and trout farming, posted operating earnings before interest and taxes (EBIT) of NOK 989 million (€85.6 million/$93.3 million) in the quarter, while the group’s revenue also increased 26 percent to almost NOK 7 billion (€603.4 million/$657.4 million).