9 October 2002
Australia Stolt Sea Farm's Australian bluefin ranching operations secured third quarter income from operations of Us$ 2.3 million as was reported by Fish Information and Services. This was quite an improvement on the Us$ 10.7 million loss from Stolt's operations in the second quarter of 2002. US salmon prices were up compared to third quarter 2001 and second quarter 2002.
"While Stolt Sea Farm's third quarter results were up from the second quarter benefiting from the seasonal harvest of bluefin tuna, the business continued to be negatively impacted by weak prices for salmon," said Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen S.A.
Stolt Sea Farm reported income from operations in the third quarter of 2002 of Us$ 2.3 million. While this was off from the Us$ 10.8 million income from operations in the third quarter of 2001, it was an improvement on the Us$ 10.7 million loss from operations in second quarter of 2002 as the business benefited from the seasonal harvest of bluefin tuna.
Stolt Sea Farm, wholly-owned by Stolt-Nielsen S.A., produces and markets bluefin tuna, Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar and tilapia.
