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ISA Forces NOR K80 Million More Charges

NORWAY - As the ISA crisis in Chile's fish farming sector deepens, Norwegian aquaculture company Marine Harvest has announced plans to book an additional charge of NOR K80m to fourth quarter accounts.

This amount is on top of the NOR K54.1M already announced at the end of last year and will be used to fund expected destruction/slaughter of affected units and measure to head of more losses.

The figure also includes a minor harvesting/destruction cost in the fourth quarter in excess of the provision made in the third quarter, says the company.

It is widely known that fish health is deteriorating in Marine Harvest's Chilean fish stocks. However, the company has reiterated its confidence in the business and says the outlook for its operations in the southern hemisphere remain positive for the long term.

Marine Harvest's performance in the third quarter has been seriously hit by the losses caused by the highly contagious ISA that has been extending to many Chilean salmon farms. It has said that it planned to move production sites to other areas where no traces of the disease have been reported.

Further Reading

       - For more information on Infectious Salmon Anaemia (ISA) click here.
       - Go to our previous news item on this story by clicking here.
 

Ellen Hardy

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