for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Salmon farmer Mowi's Q1 beats forecast as output jumps

OSLO, April 20 (Reuters) - Norway’s Mowi, the world’s largest fish farming company, posted a stronger than expected first-quarter profit on Tuesday as higher salmon output compensated for a drop in prices.

Its January-March operating profit was unchanged year-on-year at 109 million euros ($131.5 million), beating an average forecast of 98.7 million euros in a Refinitiv poll of analysts.

Mowi’s output rose in the quarter to 125,500 tonnes from 83,000 tonnes a year ago, exceeding its own prediction of 116,000 tonnes. ($1 = 0.8291 euros) (Reporting by Terje Solsvik; Editing by Himani Sarkar)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up