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Three of Chile’s largest seafood farming operators have posted their third-quarter results for 2020.
During the third quarter, Chilean salmon farming company Nova Austral’s revenues increased 26 percent to USD 39.7 million (EUR 32.8 million) when compared to the same period in 2019, mainly due to higher volumes sold and partially offset by lower market prices, the company reported to the Oslo stock market, where it is traded publicly.
However, cost of goods sold outpaced the revenue increase, increasing by 32 percent year-over-year to USD 37.3 million (EUR 30.8 million), which the company attributed to higher volumes sold (3,000-plus tons versus Q3 2019).
The company s other income spiraled 104 percent to USD 300,000 (EUR 250,000), versus USD 6.8 million (EUR 5.6 million) in Q3 2019, “since no harvest took place during Q3 2020 and therefore no Navarino benefit was accrued,” Nova Austral said. Meanwhile, distribution costs surged 60 percent to USD 3 million (EUR 2.5 mil
biobiochile.cl - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biobiochile.cl Daily Mail and Mail on Sunday newspapers.
biobiochile.cl - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biobiochile.cl Daily Mail and Mail on Sunday newspapers.