The Aurora Police Department and Cherry Creek School District are investigating sexual assault allegations against a teacher that may involve multiple students.
Reported by Denver Post 5 hours ago.
Aurora police investigating Prairie Middle school teacher for sexual assault
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Colorado fishing report for week of Aug. 20, 2017
Information is provided by Colorado Parks & Wildlife employees and local fishing enthusiasts. Since fishing conditions change on a constant basis, much can change from the time this report is produced. Metro Denver Area Aurora Reservoir
Reported by Denver Post 3 hours ago.
↧
Exhuming a forgettable legacy
Speaking of presidential loyalty, consider for a moment the legacy of Millard Fillmore, the 13th president of the United States, who spent much of his life in Buffalo and East Aurora and who is spending eternity beneath a memorial obelisk in Forest Lawn Cemetery.
Reported by bizjournals 20 hours ago.
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Colorado Architects Arch11 Design New Eco-friendly Pizzeria, Latest in Firm’s Award-winning Denver and Boulder Architecture
Denver and Boulder architects Arch11 designed the new Sazza sustainable pizzeria in Stanley Marketplace dining collective to reflect the eatery’s mission. The award-winning Colorado architecture firm’s recent restaurant designs also include Blue Island Oyster Bar in Denver, named a top U.S. inspiring restaurant interior.
Denver, Colorado (PRWEB) August 23, 2017
When Denver restaurateur Jeff Rogoff was invited to open a second, larger incarnation of his successful Sazza super-sustainable pizzeria in Stanley Marketplace – an intriguing food-centric collective developing in a converted former aviation manufacturing plant in Aurora, Colorado – he turned to the award-winning Boulder/Denver architecture firm Arch11.
Colorado residential and commercial architects Arch11 have designed a long list of top Denver and Boulder area eateries including Jax, Zolo, Lolas, Bitter Bar and OAK at Fourteenth, which consistently ranks high on EaterDenver and 5280 magazine’s top restaurant lists. Another recent Arch11 design, for Blue Island Oyster Bar in Denver’s Cherry Creek neighborhood, was recently named one of 11 inspiring restaurant interiors nationwide by popular cooking and dining website Food52.
Arch11’s embrace of eco-friendly design, a central tenet of its commercial and residential architecture since the firm’s inception, was an ideal fit for the new incarnation of Sazza, which devotes its menu to all-natural, organic and sustainable sources. “We were tasked with creating a dynamic space that represents Sazza’s commitment to food production and locally sourced ingredients,” says Arch11 architect Nathan Gulash, who used many local artisans to execute the plans. “In order to tell their story,” he adds, “you have to be able to see everything.”
To achieve this level of transparency, Gulash and Arch11 principal James Trewitt developed a series of 15- and 18-foot-tall glass and steel louvers for the restaurant’s entry. In lieu of a standard storefront, the locally fabricated kinetic door system rotates gently to open the entire front of the restaurant. “It diminishes the delineation between the restaurant and the public it wishes to interact with,” explains Gulash. “The doors become a functional metaphor for Sazza’s transparency, process and mission.”
Other restaurant highlights include a 35-foot service counter, clad in beetle kill pine, displaying the origin of Sazza ingredients – including from its on-site, half-acre farm. Guest tables were constructed from salvaged 18-wheeler truck beds, glasses repurposed from wine bottles and light fixtures rescued from the original Stanley building and retrofitted with LEDs. Even the gas-fired pizza oven had a previous life, yet functions perfectly for Sazza’s thin crust pizzas. The light and airy restaurant also features an outdoor patio and community room where classes, demonstrations and get-togethers can be held.
Arch11’s stylish design for the Stanley Marketplace Sazza is one in a long list of the firm’s contributions to the region’s thriving dining and drinking scene. Other recent Arch11 restaurant designs include such favorites as the Platte Valley’s Brider where Chef Steven Redzikowski (EaterDenver’s 2015 Chef of the Year; Food & Wine regional "People's Best New Chef") and restaurateur Bryan Dayton – the successful partners behind award-winning OAK at Fourteenth in Boulder – enlisted Arch11 to design their newest fast-casual rotisserie restaurant. Inspired by traditional open markets, the Arch11 design creates a timeless “old world” kitchen feel. A layering of textures, geometric wall planes and custom built-ins, along with bright and classic furnishings, mingle the old-soul feel with a clean modernism that matches the neighborhood’s renewed vitality.
For Blue Island Oyster Bar, Arch11 repeat client Concept Restaurants decided to bring an authentic oyster bar to the Denver market. Taking cues from well-worn beach-side oyster joints, Arch11 created a comfortable, communal atmosphere in the swank Cherry Creek North neighborhood that referenced seaside roots while successfully leaving nautical cliché behind – and won a spot on EaterDenver’s top five “stone-cold stunner” designs of 2015. Describing the design as “ocean-airy,” Food52 also took notice of the Arch11 restaurant design with its honoring of Blue Island Oyster Bar as one of a handful of U.S. eateries that “couple thoughtful menus with thoughtful ambiences.” The subtle nods to the nautical atmosphere make it “feel like an oasis on the coast of Maine,” wrote the foodie website about the restaurant.
The Arch11 team is also behind Denver’s elegant Humboldt and upscale Ballpark neighborhood watering hole Whiskey Tango Foxtrot, and is currently working on the design for Bryan Dayton’s Corrida, a much-anticipated Spanish Basque country-influenced rooftop restaurant in Boulder planned for a Fall 2017 opening. That restaurant will feature one of Boulder’s only unobstructed views of the famed Flatiron rock formations.
Arch11’s approach to restaurant design – allowing the dining space to celebrate the food and the chefs who are creating it rather than inventing an overpowering atmosphere – provides a refreshing direction for chefs and restaurant groups hoping to capitalize on Denver and Boulder’s ever-maturing palate. And the architects, perhaps even better known for creating innovative highest-quality contemporary residences, bring that same philosophy and expertise to the home kitchens they design, including for the LEED Gold-certified Syncline House near Boulder, a Sub-zero/Wolf Kitchen Design Contest winner.
About Arch11:
Founded in 1993, Arch11 has gained recognition for projects ranging from exceptional residences to institutional planning, mixed-use development and product design, including a 2009 Firm of the Year Award from the Colorado AIA North chapter, and in 2017 principal E.J. Meade received Colorado Homes & Lifestyles magazine’s Circle of Excellence Award. The firm's heirloom-quality custom homes have been featured in publications including The New York Times, Wall Street Journal, Dwell and Fine Homebuilding. With offices in Boulder and Denver, Colo., Arch11 has over 30 combined years of green building technology leadership. The staff’s unusual level of hands-on experience ranges from boat building to furniture making, contributing to its reputation for commitment to craft, detailing and design integrity. For additional information visit http://www.arch11.com.
Contact: Sarah Goldblatt, sarah(at)wordprmarketing(dot)com, 303.777.7667 Reported by PRWeb 18 hours ago.
Denver, Colorado (PRWEB) August 23, 2017
When Denver restaurateur Jeff Rogoff was invited to open a second, larger incarnation of his successful Sazza super-sustainable pizzeria in Stanley Marketplace – an intriguing food-centric collective developing in a converted former aviation manufacturing plant in Aurora, Colorado – he turned to the award-winning Boulder/Denver architecture firm Arch11.
Colorado residential and commercial architects Arch11 have designed a long list of top Denver and Boulder area eateries including Jax, Zolo, Lolas, Bitter Bar and OAK at Fourteenth, which consistently ranks high on EaterDenver and 5280 magazine’s top restaurant lists. Another recent Arch11 design, for Blue Island Oyster Bar in Denver’s Cherry Creek neighborhood, was recently named one of 11 inspiring restaurant interiors nationwide by popular cooking and dining website Food52.
Arch11’s embrace of eco-friendly design, a central tenet of its commercial and residential architecture since the firm’s inception, was an ideal fit for the new incarnation of Sazza, which devotes its menu to all-natural, organic and sustainable sources. “We were tasked with creating a dynamic space that represents Sazza’s commitment to food production and locally sourced ingredients,” says Arch11 architect Nathan Gulash, who used many local artisans to execute the plans. “In order to tell their story,” he adds, “you have to be able to see everything.”
To achieve this level of transparency, Gulash and Arch11 principal James Trewitt developed a series of 15- and 18-foot-tall glass and steel louvers for the restaurant’s entry. In lieu of a standard storefront, the locally fabricated kinetic door system rotates gently to open the entire front of the restaurant. “It diminishes the delineation between the restaurant and the public it wishes to interact with,” explains Gulash. “The doors become a functional metaphor for Sazza’s transparency, process and mission.”
Other restaurant highlights include a 35-foot service counter, clad in beetle kill pine, displaying the origin of Sazza ingredients – including from its on-site, half-acre farm. Guest tables were constructed from salvaged 18-wheeler truck beds, glasses repurposed from wine bottles and light fixtures rescued from the original Stanley building and retrofitted with LEDs. Even the gas-fired pizza oven had a previous life, yet functions perfectly for Sazza’s thin crust pizzas. The light and airy restaurant also features an outdoor patio and community room where classes, demonstrations and get-togethers can be held.
Arch11’s stylish design for the Stanley Marketplace Sazza is one in a long list of the firm’s contributions to the region’s thriving dining and drinking scene. Other recent Arch11 restaurant designs include such favorites as the Platte Valley’s Brider where Chef Steven Redzikowski (EaterDenver’s 2015 Chef of the Year; Food & Wine regional "People's Best New Chef") and restaurateur Bryan Dayton – the successful partners behind award-winning OAK at Fourteenth in Boulder – enlisted Arch11 to design their newest fast-casual rotisserie restaurant. Inspired by traditional open markets, the Arch11 design creates a timeless “old world” kitchen feel. A layering of textures, geometric wall planes and custom built-ins, along with bright and classic furnishings, mingle the old-soul feel with a clean modernism that matches the neighborhood’s renewed vitality.
For Blue Island Oyster Bar, Arch11 repeat client Concept Restaurants decided to bring an authentic oyster bar to the Denver market. Taking cues from well-worn beach-side oyster joints, Arch11 created a comfortable, communal atmosphere in the swank Cherry Creek North neighborhood that referenced seaside roots while successfully leaving nautical cliché behind – and won a spot on EaterDenver’s top five “stone-cold stunner” designs of 2015. Describing the design as “ocean-airy,” Food52 also took notice of the Arch11 restaurant design with its honoring of Blue Island Oyster Bar as one of a handful of U.S. eateries that “couple thoughtful menus with thoughtful ambiences.” The subtle nods to the nautical atmosphere make it “feel like an oasis on the coast of Maine,” wrote the foodie website about the restaurant.
The Arch11 team is also behind Denver’s elegant Humboldt and upscale Ballpark neighborhood watering hole Whiskey Tango Foxtrot, and is currently working on the design for Bryan Dayton’s Corrida, a much-anticipated Spanish Basque country-influenced rooftop restaurant in Boulder planned for a Fall 2017 opening. That restaurant will feature one of Boulder’s only unobstructed views of the famed Flatiron rock formations.
Arch11’s approach to restaurant design – allowing the dining space to celebrate the food and the chefs who are creating it rather than inventing an overpowering atmosphere – provides a refreshing direction for chefs and restaurant groups hoping to capitalize on Denver and Boulder’s ever-maturing palate. And the architects, perhaps even better known for creating innovative highest-quality contemporary residences, bring that same philosophy and expertise to the home kitchens they design, including for the LEED Gold-certified Syncline House near Boulder, a Sub-zero/Wolf Kitchen Design Contest winner.
About Arch11:
Founded in 1993, Arch11 has gained recognition for projects ranging from exceptional residences to institutional planning, mixed-use development and product design, including a 2009 Firm of the Year Award from the Colorado AIA North chapter, and in 2017 principal E.J. Meade received Colorado Homes & Lifestyles magazine’s Circle of Excellence Award. The firm's heirloom-quality custom homes have been featured in publications including The New York Times, Wall Street Journal, Dwell and Fine Homebuilding. With offices in Boulder and Denver, Colo., Arch11 has over 30 combined years of green building technology leadership. The staff’s unusual level of hands-on experience ranges from boat building to furniture making, contributing to its reputation for commitment to craft, detailing and design integrity. For additional information visit http://www.arch11.com.
Contact: Sarah Goldblatt, sarah(at)wordprmarketing(dot)com, 303.777.7667 Reported by PRWeb 18 hours ago.
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Whole Foods shareholders vote today on Amazon takeover
Today's one of the biggest days in the history of Whole Foods Market Inc., a pioneer among natural and organic grocery stores, a trending-setting force in the consumer goods and agriculture ecosystems. Whole Foods shareholders are set to vote in the grocer's headquarters city of Austin, Texas, on the pending $13.7 billion buyout by Amazon.com Inc. Both companies have major operations in Colorado. Whole Foods has 19 stores across the state and a distribution center in Aurora, while Amazon operates…
Reported by bizjournals 11 hours ago.
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Canadian Marijuana Investors Are Becoming Fearful: Is it Time to Be Greedy?
The hype seems to be fading as uncertainties mount. Should investors still be buying shares of well-run producers such as Aurora Cannabis Inc. (TSX:ACB)?
Reported by Motley Fool 10 hours ago.
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9News: Closure rate is high for new metro-Denver restaurants (Video)
By Anastasiya Bolton, KUSA-9News Large red signs that say "Seized by the City of Aurora" are up on the doors of A-Town Pizza in Aurora, a two-store restaurant business that has been shut down for nonpayment of sales and occupational privilege taxes. It’s just one of many restaurant closures in the Denver metro area that surprise customers and employees every month. The Colorado Restaurant Association tells 9News that restaurant closures are not unusual. They estimate that in 2016, for every…
Reported by bizjournals 10 hours ago.
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Aurora(TM) HD Video Ads from AdColony Deliver Unique Engagements 7X Larger than Averages
AdColony's interactive mobile video ads deliver innovative and immersive storytelling, resulting in record engagement and purchase intent
Reported by Marketwired 9 hours ago.
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Whole Foods shareholders OK $13.7B takeover by Amazon; regulators still need to weigh in
Only Uncle Sam stands in the way of a $13.7 billion deal that promises to shake up worldwide food distribution. Whole Foods Market Inc. shareholders today approved a buyout by Amazon.com Inc. at $42 per share, one of the final roadblocks to the merger. Federal regulators still have to give their OK. Shareholders at Amazon do not need to vote on the deal. Both companies have major operations in Colorado. Whole Foods (Nasdaq: WFM) has 19 stores across the state and a distribution center in Aurora,…
Reported by bizjournals 6 hours ago.
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10 of Aurora’s poorest elementary schools get free breakfast and lunch this year
Laredo Elementary students have nothing to fear come breakfast and lunchtime this school year.
Reported by Denver Post 3 hours ago.
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Former Grand View High School security guard accused of sexual assault of student
A former Grand View High School security guard, Broderick Lundie, faces three charges in connection with sexual assault allegations involving a student at the Aurora school.
Reported by Denver Post 26 minutes ago.
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Aurora City Manager Skip Noe will retire Nov. 1
Aurora City Manager Skip Noe, who survived allegations of sexism in 2015, announced his retirement Tuesday in a statement after sharing the decision with Mayor Steve Hogan.
Reported by Denver Post 1 week ago.
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Crash causing heavy backups on NB Aurora
A crash near Green Lake on state Route 99 caused long delays Monday afternoon on the northbound side of the highway.
Reported by SeattlePI.com 44 minutes ago.
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Lerøy Seafood Group ASA: Q2 2017 Results
*GOOD EARNINGS FROM LOW HARVEST VOLUME*
In Q2 2017 Lerøy Seafood Group (LSG) reported operating profit before fair value adjustment related to biological assets of NOK 801 million in Q2 2017, compared with NOK 760 million in Q2 2016. This corresponds to operating profit before fair value adjustment related to biological assets for Q2 2017 of NOK 27.3 per kg against NOK 18.5 per kg in Q2 2016.
The Group reported revenue of NOK 4,224 million, compared with NOK 4,262 million in the same period in 2016. The harvest volume of salmon and the volume in Q2 2017 are down 36% when compared with Q2 2016, but these figures must be viewed in light of the high harvest volume in Q1 2017. For 2017 as a whole, the harvest volume is expected to be higher than in 2016.
For the first half of 2017 the Group reports revenue of NOK 9,684 million, up 20% on the equivalent period last year. The operating profit before fair value adjustment related to biological assets for the first half of 2017 was NOK 2,078 million compared with NOK 1,345 million for the first half of 2016. The profit before tax and fair value adjustment related to biological assets for the first half of 2017 was NOK 2,134 million compared with NOK 1,367 million for the first half of 2016.
· "Salmon and trout prices remain at a high level, and with such prices as the main factor, Lerøy Seafood Group can report its highest revenue and highest operating profit in any half-year period in the Group's history," confirms CEO Henning Beltestad. "As previously reported, the harvest volume for salmon and trout is down from the same quarter last year, but for the year as a whole however, the harvest volume is expected to be higher than in 2016," explains Henning Beltestad.
*THE WILD CATCH AND WHITEFISH SEGMENT*
In the autumn of 2016, Lerøy Seafood Group obtained 100% ownership of both Havfisk ASA (Havfisk) and Norway Seafoods Group AS (now Lerøy Norway Seafoods AS). As a result of this transaction, both companies were consolidated into Lerøy Seafood Group as of 1 September 2016 and comprise the Wild Catch and Whitefish segment.
Havfisk's primary business is wild catches of whitefish. Havfisk has licence rights to harvest just above 10% of the total Norwegian cod quotas in the zone north of 62 degrees latitude, corresponding to more than 30% of the total quota allocated to the trawler fleet.
Havfisk's total catch volume in Q2 2017 was 16,769 tonnes, compared with 17,020 tonnes in Q2 2016. The ratio of saithe in Q2 2017 was significantly higher than in Q2 2016. The harvest volume in Q2 2017 comprised 4,067 tonnes of cod, 6,585 tonnes of saithe and 2,050 tonnes of haddock. The distribution in Q2 2016 was 6,057 tonnes of cod, 1,820 tonnes of saithe and 4,181 tonnes of haddock. On comparison with Q2 2016, prices for cod were up 9%, prices for haddock were up 30% while prices for saithe were down 28%. The remaining quotas for cod, haddock and saithe as of Q2 2017 are approximately 25,000 tonnes, on par with the remaining quotas at the same time last year.
LNWS's primary business is processing wild caught whitefish. The company has eight processing plants in Norway, five of which are leased from Havfisk. LNWS is the largest purchaser of cod from the coastal fishing fleet in Norway.
The total contribution to operating profit made by these two companies in Q2 2017 was NOK 86 million.
· "Havfisk and Lerøy Norway Seafoods are important companies and support the Group's long-term industrial strategy. We look forward to generating lasting value by developing the companies by means of long-term industrial planning, and are confident we will succeed in this together with our employees at sea and on shore. The recent tabloid debate on regulatory factors has unfortunately been dominated by a short-term mentality, fear of change and a lack of understanding of what is required to achieve industrial development. I have faith in the Norwegian authorities and trust that they will now allow us to develop our business without interruption in the years to come. Good framework conditions based on an understanding of what is required to sustain and create jobs and value afford more potential for future success," explains CEO Henning Beltestad.
*FARMING SEGMENT - HIGH PRICES FOR SALMON, INCREASE IN PRICES FOR TROUT*
The Farming segment reported operating profit before fair value adjustment related to biological assets of NOK 613 million in Q2 2017, down from NOK 674 million in Q2 2016. As previously reported, the harvest volume in Q2 2017 was significantly lower than in Q1 2017. The segment harvested a total of 26,156 GWT salmon and trout in Q2 2017, down 36% from the same period in 2016. The harvest volume for the first half of 2017 is 12% lower than in the corresponding period in 2016. Nonetheless, the Group currently expects to report a higher harvest volume for 2017 as a whole than in 2016. EBIT/kg increased from NOK 16.4 per kg in Q2 2016 to NOK 23.4 per kg in Q2 2017.
In Q2 2017, Lerøy Aurora achieved operational EBIT per kg of NOK 30.8. Lerøy Midt and Lerøy Sjøtroll are reporting EBIT per kg of NOK 18.5 and NOK 20.7 respectively for the same period.
· "It is positive for the Group that trout prices, after three difficult years, have now seen a substantial improvement and are marginally higher than salmon prices in Q2 2017," confirms Henning Beltestad. "The sustained high price level for salmon is, however, strongly affected by the fact that the Norwegian fish farming industry has not increased production since 2012. In the near future, it will be of decisive importance for the long term competitiveness of this industry that Norway gradually starts to increase production," highlights Henning Beltestad.
· "The Group's release from stock costs in Q2 2017 are impacted by the low harvest volume, the higher feed costs and very high direct and indirect costs incurred to comply with statutory salmon lice limits, have resulted in release from stock costs that we consider to be higher than normal," explains Henning Beltestad. He goes on to add: "We are beginning to see the outline of positive results from the measures implemented by the Group and expect these to provide cost reductions in time."
*VAP, SALES & DISTRIBUTION (VAPS&D)*
The VAPS&D segment reported revenue in Q2 2017 of NOK 4,043 million, down 3% when compared with the same period last year. Operating profit before fair value adjustment related to biological assets was up from NOK 97 million in Q2 2016 to NOK 115 million in Q2 2017. This provides an operating margin before fair value adjustment related to biological assets of 2.9% in Q2 2017.
· "A low harvest volume in Q2 2017 has had an impact on the level of activity for salmon and trout, but the Group is very happy to have identified positive synergy effects within marketing as a result of the acquisitions made within whitefish," confirms Henning Beltestad.
*MARKET AND OUTLOOK*
The Group is in a transitional phase within production of salmon and trout, with extraordinarily high direct and indirect treatment costs, combined with increasing costs for prevention. One central element in the Group's strategy is to minimise the number of treatments. Since 2013/2014, the Group has made substantial investments in their own production of cleaner fish. The Group is also investing in other tools to optimise production. These include a significant increase in capacity for mechanical cleaning and fresh-water treatment in well boats.
Prevention costs are expected to increase in 2017, while costs related to treatment are expected to fall. There is high potential to reduce treatment costs and the Group has a clear strategy and goal to realise this potential. Developments to date in 2017 have been positive, and the Group currently expects to see a fall in release from stock costs in the next quarters. Nonetheless, the Board of Directors acknowledges that it will still take some time to realise the full potential of the measures implemented.
For a number of years now, the Board of Directors and management have clearly stated their views on the need for changes to regulations in Norway. The Board of Directors is of the opinion that a growth in demand over time is perhaps the most important driver for global competitiveness and increased value generation. From a long-term market perspective, the Norwegian fish farming industry is in a challenging situation in 2017, as lack of growth in volume has resulted in very high prices. The Norwegian fish farming industry will only be able to retain its global competitiveness over a time frame of the next five to ten years if framework conditions facilitate growth in production in Norway. Framework conditions of this nature must be based on an understanding of environmental sustainability and value generation.
In 2017, the Group expects to harvest 175,000 GWT of salmon and trout, including their share of LSG's volume from associates and a catch volume of more than 60,000 tonnes.
The Board of Directors is positive to the market outlook, and currently expects to see an improvement in result in Q3 2017 when compared with Q2 2017, and a significantly better result for 2017 than in 2016.
Questions and comments may be addressed to the company's CEO, Henning Beltestad, or to the CFO, Sjur S. Malm.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
Q2 2017 Report
Q2 2017 Presentation
--------------------This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lerøy Seafood Group ASA via GlobeNewswire
HUG#2128763 Reported by GlobeNewswire 10 hours ago.
In Q2 2017 Lerøy Seafood Group (LSG) reported operating profit before fair value adjustment related to biological assets of NOK 801 million in Q2 2017, compared with NOK 760 million in Q2 2016. This corresponds to operating profit before fair value adjustment related to biological assets for Q2 2017 of NOK 27.3 per kg against NOK 18.5 per kg in Q2 2016.
The Group reported revenue of NOK 4,224 million, compared with NOK 4,262 million in the same period in 2016. The harvest volume of salmon and the volume in Q2 2017 are down 36% when compared with Q2 2016, but these figures must be viewed in light of the high harvest volume in Q1 2017. For 2017 as a whole, the harvest volume is expected to be higher than in 2016.
For the first half of 2017 the Group reports revenue of NOK 9,684 million, up 20% on the equivalent period last year. The operating profit before fair value adjustment related to biological assets for the first half of 2017 was NOK 2,078 million compared with NOK 1,345 million for the first half of 2016. The profit before tax and fair value adjustment related to biological assets for the first half of 2017 was NOK 2,134 million compared with NOK 1,367 million for the first half of 2016.
· "Salmon and trout prices remain at a high level, and with such prices as the main factor, Lerøy Seafood Group can report its highest revenue and highest operating profit in any half-year period in the Group's history," confirms CEO Henning Beltestad. "As previously reported, the harvest volume for salmon and trout is down from the same quarter last year, but for the year as a whole however, the harvest volume is expected to be higher than in 2016," explains Henning Beltestad.
*THE WILD CATCH AND WHITEFISH SEGMENT*
In the autumn of 2016, Lerøy Seafood Group obtained 100% ownership of both Havfisk ASA (Havfisk) and Norway Seafoods Group AS (now Lerøy Norway Seafoods AS). As a result of this transaction, both companies were consolidated into Lerøy Seafood Group as of 1 September 2016 and comprise the Wild Catch and Whitefish segment.
Havfisk's primary business is wild catches of whitefish. Havfisk has licence rights to harvest just above 10% of the total Norwegian cod quotas in the zone north of 62 degrees latitude, corresponding to more than 30% of the total quota allocated to the trawler fleet.
Havfisk's total catch volume in Q2 2017 was 16,769 tonnes, compared with 17,020 tonnes in Q2 2016. The ratio of saithe in Q2 2017 was significantly higher than in Q2 2016. The harvest volume in Q2 2017 comprised 4,067 tonnes of cod, 6,585 tonnes of saithe and 2,050 tonnes of haddock. The distribution in Q2 2016 was 6,057 tonnes of cod, 1,820 tonnes of saithe and 4,181 tonnes of haddock. On comparison with Q2 2016, prices for cod were up 9%, prices for haddock were up 30% while prices for saithe were down 28%. The remaining quotas for cod, haddock and saithe as of Q2 2017 are approximately 25,000 tonnes, on par with the remaining quotas at the same time last year.
LNWS's primary business is processing wild caught whitefish. The company has eight processing plants in Norway, five of which are leased from Havfisk. LNWS is the largest purchaser of cod from the coastal fishing fleet in Norway.
The total contribution to operating profit made by these two companies in Q2 2017 was NOK 86 million.
· "Havfisk and Lerøy Norway Seafoods are important companies and support the Group's long-term industrial strategy. We look forward to generating lasting value by developing the companies by means of long-term industrial planning, and are confident we will succeed in this together with our employees at sea and on shore. The recent tabloid debate on regulatory factors has unfortunately been dominated by a short-term mentality, fear of change and a lack of understanding of what is required to achieve industrial development. I have faith in the Norwegian authorities and trust that they will now allow us to develop our business without interruption in the years to come. Good framework conditions based on an understanding of what is required to sustain and create jobs and value afford more potential for future success," explains CEO Henning Beltestad.
*FARMING SEGMENT - HIGH PRICES FOR SALMON, INCREASE IN PRICES FOR TROUT*
The Farming segment reported operating profit before fair value adjustment related to biological assets of NOK 613 million in Q2 2017, down from NOK 674 million in Q2 2016. As previously reported, the harvest volume in Q2 2017 was significantly lower than in Q1 2017. The segment harvested a total of 26,156 GWT salmon and trout in Q2 2017, down 36% from the same period in 2016. The harvest volume for the first half of 2017 is 12% lower than in the corresponding period in 2016. Nonetheless, the Group currently expects to report a higher harvest volume for 2017 as a whole than in 2016. EBIT/kg increased from NOK 16.4 per kg in Q2 2016 to NOK 23.4 per kg in Q2 2017.
In Q2 2017, Lerøy Aurora achieved operational EBIT per kg of NOK 30.8. Lerøy Midt and Lerøy Sjøtroll are reporting EBIT per kg of NOK 18.5 and NOK 20.7 respectively for the same period.
· "It is positive for the Group that trout prices, after three difficult years, have now seen a substantial improvement and are marginally higher than salmon prices in Q2 2017," confirms Henning Beltestad. "The sustained high price level for salmon is, however, strongly affected by the fact that the Norwegian fish farming industry has not increased production since 2012. In the near future, it will be of decisive importance for the long term competitiveness of this industry that Norway gradually starts to increase production," highlights Henning Beltestad.
· "The Group's release from stock costs in Q2 2017 are impacted by the low harvest volume, the higher feed costs and very high direct and indirect costs incurred to comply with statutory salmon lice limits, have resulted in release from stock costs that we consider to be higher than normal," explains Henning Beltestad. He goes on to add: "We are beginning to see the outline of positive results from the measures implemented by the Group and expect these to provide cost reductions in time."
*VAP, SALES & DISTRIBUTION (VAPS&D)*
The VAPS&D segment reported revenue in Q2 2017 of NOK 4,043 million, down 3% when compared with the same period last year. Operating profit before fair value adjustment related to biological assets was up from NOK 97 million in Q2 2016 to NOK 115 million in Q2 2017. This provides an operating margin before fair value adjustment related to biological assets of 2.9% in Q2 2017.
· "A low harvest volume in Q2 2017 has had an impact on the level of activity for salmon and trout, but the Group is very happy to have identified positive synergy effects within marketing as a result of the acquisitions made within whitefish," confirms Henning Beltestad.
*MARKET AND OUTLOOK*
The Group is in a transitional phase within production of salmon and trout, with extraordinarily high direct and indirect treatment costs, combined with increasing costs for prevention. One central element in the Group's strategy is to minimise the number of treatments. Since 2013/2014, the Group has made substantial investments in their own production of cleaner fish. The Group is also investing in other tools to optimise production. These include a significant increase in capacity for mechanical cleaning and fresh-water treatment in well boats.
Prevention costs are expected to increase in 2017, while costs related to treatment are expected to fall. There is high potential to reduce treatment costs and the Group has a clear strategy and goal to realise this potential. Developments to date in 2017 have been positive, and the Group currently expects to see a fall in release from stock costs in the next quarters. Nonetheless, the Board of Directors acknowledges that it will still take some time to realise the full potential of the measures implemented.
For a number of years now, the Board of Directors and management have clearly stated their views on the need for changes to regulations in Norway. The Board of Directors is of the opinion that a growth in demand over time is perhaps the most important driver for global competitiveness and increased value generation. From a long-term market perspective, the Norwegian fish farming industry is in a challenging situation in 2017, as lack of growth in volume has resulted in very high prices. The Norwegian fish farming industry will only be able to retain its global competitiveness over a time frame of the next five to ten years if framework conditions facilitate growth in production in Norway. Framework conditions of this nature must be based on an understanding of environmental sustainability and value generation.
In 2017, the Group expects to harvest 175,000 GWT of salmon and trout, including their share of LSG's volume from associates and a catch volume of more than 60,000 tonnes.
The Board of Directors is positive to the market outlook, and currently expects to see an improvement in result in Q3 2017 when compared with Q2 2017, and a significantly better result for 2017 than in 2016.
Questions and comments may be addressed to the company's CEO, Henning Beltestad, or to the CFO, Sjur S. Malm.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
Q2 2017 Report
Q2 2017 Presentation
--------------------This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lerøy Seafood Group ASA via GlobeNewswire
HUG#2128763 Reported by GlobeNewswire 10 hours ago.
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Two injured after collision on Hwy. 404 near Aurora
Two people were rushed to hospital this morning after a collision on Highway 404 near Aurora.
Reported by CP24 5 hours ago.
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These 2 Companies Are the Only Marijuana Companies Investors Should Consider
Some may win, and some may lose, but the two cannabis companies I believe will outperform in the long run are Aphria Inc. (TSX:APH) and Aurora Cannabis Inc. (TSX:ACB).
Reported by Motley Fool 1 hour ago.
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Doctor says nail punctured Wisconsin man’s heart
MILWAUKEE (AP) — The doctor who operated on a Wisconsin man who accidentally shot himself with a nail gun says the nail punctured the patient’s heart. Dr. Alexander Roitstein performed the surgery on Doug Bergeson at Aurora BayCare Medical Center in Green Bay in June. The doctor said Tuesday it was difficult to assess how […]
Reported by Seattle Times 1 week ago.
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28 more Kmart stores to close, including 2 in Colorado
Sears Holdings Corp. revealed today that it will shutter an additional 28 of its Kmart stores than it had already announced. That includes two metro-Denver locations: At 15200 E. Colfax Ave. in Aurora and 200 W. Belleview Ave. in Englewood. They will close by mid-November. The company said the latest closures are in addition to the 180 Sears and Kmart locations that have closed this year. Kmart locations at 363 S. Broadway in Denver and 2809 North Ave. in Grand Junction closed in March. And late…
Reported by bizjournals 12 hours ago.
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Police make arrest in Aurora motel slaying
Seattle police arrested a 29-year-old man in Ballard Thursday in connection with a dead body found in an Aurora Avenue motel room Saturday.
Reported by SeattlePI.com 9 hours ago.
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Aurora Viewing, Ice Sculpting and Dog Mushing Featured in Explore Fairbanks 2017-18 Winter Guide
The Explore Fairbanks Winter Guide reviews aurora hunting, dog sledding and ice sculpting. The guide also highlights remarkable attractions and activities, winter events and nearby locations like Denali and the Arctic.
Fairbanks, AK (PRWEB) August 25, 2017
The 2017-2018 Fairbanks Winter Guide is now available for free. The Winter Guide, designed to help plan vacations in the winter season, is a 32-page full-color booklet. Filled with winter activity listings and an action-packed events calendar, the guide offers an informative, yet lighthearted view of winter in Alaska’s Interior and the Arctic. Like a trip inside a snow globe, Fairbanks offers northern lights viewing, one of the world’s largest ice-sculpting events and the exhilarating sport of dog mushing. This trio of events make the winter season a travelers’ snowy paradise.
The guide presents Fairbanks attractions and activities and also highlights nearby winter destinations. Visitors are invited to mush a team of huskies across the wilderness, discover Denali National Park during the winter months, journey above the Arctic Circle, visit Santa in North Pole, or delight in the warmth of an Alaskan hot spring at the end of an adventure-filled day.
The event section provides current information about winter activities, celebrations and sporting events. Highlights include events such as the Open North American Championship Sled Dog Race, the Festival of Native Arts, the World Ice Art Championships and the Iron Dog - the world’s longest, toughest snowmobile race. The diverse art scene in Fairbanks, including musical and dramatic performances, Alaska Native cultural events, art galleries and museum exhibits are also featured. Other outdoor action, such as skiing, ice skating, snowmobiling, snow shoeing, ice fishing, curling, tubing and ice hockey are also covered.
For a free copy of the 2017-2018 Fairbanks Winter Guide, contact Explore Fairbanks at 800-327-5774 or (907) 456-5774 or write to 101 Dunkel Street, Suite 111, Fairbanks, Alaska 99701-4806. You can also order the guide or view it interactively online at http://www.explorefairbanks.com.
About Explore Fairbanks
Explore Fairbanks is a non-profit marketing and management organization whose mission is to be an economic driver in the Fairbanks region by marketing to potential visitors and optimizing the visitor experience. Explore Fairbanks markets Fairbanks as a year-round destination by promoting local events, attractions and activities to independent travelers, group tour operators, travel agents, meeting planners and the media as well as by developing public policy and infrastructure to achieve marketing objectives. Find out more at explorefairbanks.com. Reported by PRWeb 1 day ago.
Fairbanks, AK (PRWEB) August 25, 2017
The 2017-2018 Fairbanks Winter Guide is now available for free. The Winter Guide, designed to help plan vacations in the winter season, is a 32-page full-color booklet. Filled with winter activity listings and an action-packed events calendar, the guide offers an informative, yet lighthearted view of winter in Alaska’s Interior and the Arctic. Like a trip inside a snow globe, Fairbanks offers northern lights viewing, one of the world’s largest ice-sculpting events and the exhilarating sport of dog mushing. This trio of events make the winter season a travelers’ snowy paradise.
The guide presents Fairbanks attractions and activities and also highlights nearby winter destinations. Visitors are invited to mush a team of huskies across the wilderness, discover Denali National Park during the winter months, journey above the Arctic Circle, visit Santa in North Pole, or delight in the warmth of an Alaskan hot spring at the end of an adventure-filled day.
The event section provides current information about winter activities, celebrations and sporting events. Highlights include events such as the Open North American Championship Sled Dog Race, the Festival of Native Arts, the World Ice Art Championships and the Iron Dog - the world’s longest, toughest snowmobile race. The diverse art scene in Fairbanks, including musical and dramatic performances, Alaska Native cultural events, art galleries and museum exhibits are also featured. Other outdoor action, such as skiing, ice skating, snowmobiling, snow shoeing, ice fishing, curling, tubing and ice hockey are also covered.
For a free copy of the 2017-2018 Fairbanks Winter Guide, contact Explore Fairbanks at 800-327-5774 or (907) 456-5774 or write to 101 Dunkel Street, Suite 111, Fairbanks, Alaska 99701-4806. You can also order the guide or view it interactively online at http://www.explorefairbanks.com.
About Explore Fairbanks
Explore Fairbanks is a non-profit marketing and management organization whose mission is to be an economic driver in the Fairbanks region by marketing to potential visitors and optimizing the visitor experience. Explore Fairbanks markets Fairbanks as a year-round destination by promoting local events, attractions and activities to independent travelers, group tour operators, travel agents, meeting planners and the media as well as by developing public policy and infrastructure to achieve marketing objectives. Find out more at explorefairbanks.com. Reported by PRWeb 1 day ago.
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