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BRIEF-Leroy Seafood Q1 core earnings beat forecast, sees weaker Q2
May 11, 2017 / 4:44 AM / 3 months ago

BRIEF-Leroy Seafood Q1 core earnings beat forecast, sees weaker Q2

May 11 (Reuters) - Leroy Seafood Group Asa

* Q1 ebit before fair value adjustment NOK 1.28 billion (Reuters poll NOK 1.05 billion)

* Q1 total revenue NOK 5.46 billion (Reuters poll NOK 4.93 billion)

* sees 2017 harvest volume 180,000 tonnes including associates versus previous guidance of 180,000 tonnes

* harvested volume of salmon and trout will be significantly lower in Q2 2017 when compared with both Q1 2017 and Q2 2016

* Board of directors therefore expects results before fair value adjustments in Q2 2017 to be substantially lower than in Q1 2017, but at same time that results before fair value adjustments for 2017 to be higher than in 2016

* group sees global salmon industry supply +3.3 percent in 2017 versus +1.7 percent previously

* says market outlook supports strong prices

* says expected contract share Q2 is about 40 percent, with significantly lower harvest volume than in q1/17 Source text for Eikon: Further company coverage:

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