Faeroese salmon producer Bakkafrost Group on Tuesday reported its third-quarter results.
Although the company achieved strong margins, its operating income fell to DKK 47.3 million, compared to DKK 50.9 million during the same period in 2009.
Operating revenues were also down 25 percent in the third quarter to DKK 158 million, compared to DKK 212 million in the third quarter of 2009.
Bakkafrost harvested 4,048 metric tons (gutted weight) of farmed salmon in the third quarter, down from 6,815 metric tons in the third quarter of 2009 and 5,341 metric tons in the second quarter of 2010. The company expects its production to reach 23,000 metric tons in 2010 and 35,000 metric tons in 2011.
“We are satisfied with the result taking, into account the low harvested volumes and thus low capacity utilization,” said Bakkafrost CEO Regin Jacobsen. “Going forward, the harvest will be at a significantly higher level, which gives the company a platform for better biological, operational and market planning.”
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