Salmon farming giant Mowi freezes all Norway investments despite another quarter of record earnings

Salmon farming giant Mowi has reported another record quarter, with earnings reflecting revenue hoisted to new heights by rocketing salmon prices.

But results were overshadowed by the ongoing threat of the new tax on farmed salmon production proposed at the end of September by the Norwegian government.

Earnings for the mega-producer shot up 64.3 percent to €283.4 million ($285.3 million) year-on-year in the third quarter of 2022 on record-high revenue of €1.26 billion ($1.26 billion).

Revenue reflected a 21 percent rise, but it wasn't enough to detract from the looming threat of an additional 40 percent tax on production, which when added to the current corporate tax could reach 62 percent.