CODFARMERS THIRD QUARTER 2012
Codfarmer’s revenues in Q3 2012 were MNOK 46.9, compared to MNOK 24.6 for the same period in 2011. The Company had a negative EBIT of MNOK 105.2 in Q3 2012, compared to MNOK 45.1 in that period in 2011.
Codfarmers is in default under its loan agreements and has started negotiations with its lenders. The Company has also to turned to its suppliers for deferred payment.
The Company has resolved to implement extensive cost reductions. As a part of this the Company will downscale its operations by disposing subsidiaries, locations, equipment and land bases.
The report and presentation for Q3 2012 is attached.
For additional information, please contact:
Harald Dahl, CEO of Codfarmers, telephone +47 90 11 92 82