Norway Pelagic has completed a quarter with good supply of raw material, satisfactory operations and positive development in the main markets.
The production of pelagic fish was as usual most intensive in the 4th quarter. As the quotas for NVG-herring have increased, the activity has been higher than recent years in most of Norway Pelagic’s plants. Operations have been satisfactory and acceptable margins on sales have been achieved.
” A main objective for establishing Norway Pelagic was to achieve better predictability and stability in the Norwegian pelagic industry, and consequently make higher profits in longer terms. I believe that the first phase of establishing and integrating the company has been successful, and the results achieved so far should lead to optimism for the continuation”, comments Chairman of The Board, Sigurd Teige.
The group’s operating revenues in 4th quarter 2007 amounted to MNOK 996,8. Operating result was MNOK 74,3 and result before tax was NMOK 66,0. In 2007 operating revenues amounted to MNOK 1 118,3. Operating result was MNOK 76,0 and result before tax was MNOK 66,3.
The Board of Directors proposes a dividend from the company of NOK 1,50 per share. This implies a total dividend payment of MNOK 21,6.
Outlook for 2008 is positive based in increasing raw material supply and growing demand in main markets.
