Logo-FiskerForum
  • News
    • Latest News
    • Newbuildings
    • News Categories
      • News
      • Accidents – Shipwreck
      • Administration
      • Aquaculture
      • Associations
      • Economy
      • Education
      • End User – Food
      • Environment
      • Exhibitions
      • Fish Species
      • Fishing
      • Manufacturers
      • Story
      • Politics
      • Ports
      • Products
      • Regions
      • Research
      • Sponsored
      • Videos
    • News Service
    • News Archive
      • 2023
      • 2022
      • 2021
      • 2020
      • 2019
      • 2018
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
      • 2012
      • 2011
      • 2010
  • Vessels
    • Vessels
    • Recent Photos
    • Newbuild
    • Newbuild delivered
  • Service
    • Contact
    • Oil Prices
    • Auction Prices
    • Weather
    • News Service
    • Media Information
  • Industry Directory
  • Recent photos
Menu
  • News
    • Latest News
    • Newbuildings
    • News Categories
      • News
      • Accidents – Shipwreck
      • Administration
      • Aquaculture
      • Associations
      • Economy
      • Education
      • End User – Food
      • Environment
      • Exhibitions
      • Fish Species
      • Fishing
      • Manufacturers
      • Story
      • Politics
      • Ports
      • Products
      • Regions
      • Research
      • Sponsored
      • Videos
    • News Service
    • News Archive
      • 2023
      • 2022
      • 2021
      • 2020
      • 2019
      • 2018
      • 2017
      • 2016
      • 2015
      • 2014
      • 2013
      • 2012
      • 2011
      • 2010
  • Vessels
    • Vessels
    • Recent Photos
    • Newbuild
    • Newbuild delivered
  • Service
    • Contact
    • Oil Prices
    • Auction Prices
    • Weather
    • News Service
    • Media Information
  • Industry Directory
  • Recent photos

Iceland Seafood predicts €1.8 million pre-tax loss

  • August 11, 2022
  • Quentin Bates
  • Dato: 11/08/2022
  • kl. 07:44
  • Kategori: Company news, Processing, Seafood
  • Tags: Processing, Seafood
  • Land: Iceland

ANNONCER

The seafood distributor expects pre-tax losses for the first half of 2022 to come to €1.8 million, reporting that its 2nd quarter results have been hit big hefty, rapid prices, while stabilising the UK arm of the business is going to be a longer and more expensive process than had been anticipated.

Iceland Seafood reports good performance of its value-added southern Europe and its sales and distribution divisions, although significant and rapid price increases in all areas negatively affected results in the second quarter, particularly in the value-added northern Europe division which mostly relies on sales to retail customers but it takes longer time to pass on price increases to customers in retail than foodservice.

Sharp increases in salmon price have severely affected results in Ireland in the first half of the year and these prices have now levelled off, with cost increases passed on to customers.

The operation of IS UK was loss-making in the first half of 2022 and it has become clear that stabilising the UK business will take longer and cost more than previously estimated.

According to the company, challenges in the external environment continued to affect the business in the period, including the outbreak of Omicron Covid-19 at the beginning of the year which had disruptive impact on both operations and logistics, and price increases of various input factors during the whole period.

The company expects that based on the current outlook, that operation will continue to make losses through the remainder of 2022 and to reach a break-even point in the first half of 2023.

Performance in southern Europe has been good, with IS Iberica performing especially well with steady demand for both cod products from Iceland and Argentinean shrimp, resulting in both strong sales and margins. The operation of Ahumados Dominguez was negatively affected by the sharp in salmon prices, especially in the second quarter – but as in Ireland, the performance of Ahumados Dominguez is expected to be back to normal levels from Q3.

Besøg os på
Seneste Nybygninger

New Cleopatra 36 for Lofoten fisherman

Christian í Grótinum delivered to Klaksvík owners

New factory trawler for Icelandic owners

Orion BF-432, latest Macduff newbuild

PrevForrige nyhedSSP giant jumbo shrimp reaches Chilean market
Næste nyhedBaader appoints SCO for Iceland subsidiariesNext

Cap Nord heading for South Africa

Eliminating products of forced labour from EU markets

Shift in Danish pelagic sector as Ruth’s owners leave fishing

NIFA recognised as Producer Organisation

ANNONCER

Contact info

  • +45 60 22 09 46
  • info@fiskerforum.com
  • Otto Pedersvej 1
    6960 Hvide Sande
    Denmark

News

  • Latest News
  • Newbuildings
  • News Service
  • Know anything?
  • News in Danish

Service

  • Vessels
  • Classifieds (coming)
  • Jobs (coming)
  • Oil Prices
  • Auction Prices
  • Media Information

News Archive

  • 2019
  • 2018
  • 2017
  • 2016
  • 2015

News Service

Facebook-f Twitter Youtube
Logo-FiskerForum

All pictures, texts and data on FiskerForum are protected by Danish copyright law. All rights belong or are handled by FiskerForum.com on behalf of the associated photographers. It is not allowed to copy or use texts, data or pictures from FiskerForum without permission. © 2004 - 2019

Made with love by ApolloMedia

Terms and conditions Cookie & Privacy Policy

By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy.

Accept