The cod farming company Norcod has so far this year lost NOK 1.1 million on operations, according to the company’s third quarter report. In comparison, the company’s operating profit at the same time last year was negative at 11.2 million.
Revenues after the first three quarters of the year are 6.7 million, against 5.6 million per. third quarter 2019.
Profit before tax is weighed down by net financial items of minus NOK 5.8 million. Here, currency adjustment on loans from Danish Artha Holding contributed negatively.
At the end of the quarter, the company produced 1.7 million cod.
The company was established in 2018 and listed on Merkur Market on 15 October this year. It has recently been described as “the best investment ever seen” by the head of Danish Artha Kapitalforvaltning.
The Norcod share was traded at NOK 75 on Merkur Market on Wednesday. It values the company at NOK 1.28 billion. On the first listing day a month ago, the market value was around NOK 850 million. This gives a value increase of 50 per cent since the IPO.
|(Mill. Kr)||Pr. Q3/20||Pr. Q3 / 19|
|Result before taxes||-6,9||-13,3|
|Result after tax||-5,4||-10,4|