New Wave Media

January 20, 2020

Akva Group Warns of Q4 Loss

Norway's Akva Group, a supplier of equipment to the fish farming industry, warned on Monday of an operating loss for the fourth quarter as revenue missed expectations.

Akva expects an operating loss of between 25 million and 30 million Norwegian crowns ($2.8 million-$3.4 million) for the October-December quarter, it said in a statement. It did not provide a year-ago comparison.

The revenue shortfall was mainly caused by project delays, particularly in its land-based fish farm equipment unit, Akva Group added.

($1 = 8.9047 Norwegian crowns)

(Reporting by Terje Solsvik, editing by Gwladys Fouche)

equipmentNorwayTerje Solsvik
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