Bloomberg News

Nutreco Profit Gains; Holds Talks With Takeover Candidates

February 15, 2007

Nutreco Holding NV (NUO), the world's biggest salmon feed producer, said full-year profit gained after it sold salmon farmer Marine Harvest NV.

Net income attributable to equity holders of Nutreco rose to 519.5 million euros ($682 million) from 134.4 million euros a year earlier, the Amersfoort, Netherlands-based company said in an e-mailed statement today. Sales rose 8.5 percent to 3 billion euros. Nutreco said it is in talks with several takeover candidates with a ``revenue potential'' of 1.3 billion euros.

Nutreco sold its 75 percent stake in Marine Harvest, the world's biggest salmon farmer, to Norwegian billionaire John Fredriksen in March for 881 million euros. Price swings and outbreaks of animal diseases such as avian influenza spurred Nutreco to move away from poultry and fish farming to focus on animal and fish-feed businesses, tapping into a market worth 150 billion euros.

The company booked a gain of 380.2 million euros on the sale of Marine Harvest.

To contact the reporter on this story: Danielle Rossingh in London at drossingh@bloomberg.net.

To contact the editor responsible for this story: Justin Carrigan at jcarrigan@bloomberg.net.


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