October 15, 2019 / 4:45 AM / a month ago

Salmon farmer Mowi's Q3 earnings fall more than expected

OSLO, Oct 15 (Reuters) - Norway’s Mowi, the world’s largest fish farmer, reported lower-than-expected third-quarter profits on Tuesday amid declining salmon prices, its preliminary earnings report showed.

The firm’s operational earnings before interest and tax fell 29% year-on-year to 146 million euros ($161 million) for the July-September quarter, while a Refinitiv SmartEstimate poll had predicted earnings of 153 million euros.

Mowi’s salmon output stood at 117,000 tonnes in the quarter, above its own forecast of 113,000 tonnes.

A full earnings report for the quarter is due on Oct. 30. ($1 = 0.9065 euros) (Reporting by Victoria Klesty and Terje Solsvik; Editing by Muralikumar Anantharaman)

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