The SalMar Group on Thursday posted a fourth-quarter operating profit of NOK 346 million, up 97 percent from the same quarter in 2009. For the entire year, the company’s operating profit was also up 66 percent from the previous year to NOK 972.8 million.
SalMar generated operating revenues of NOK 1.1 billion in the fourth quarter, compared to NOK 756.5 million. Profits were also up to NOK 346 million from NOK 175.3 million in the corresponding quarter.
The company’s Central Norway and Northern Norway divisions both posted strong results. Their performance can be attributed to a combination of high salmon prices and continued high levels of operational efficiency.
One of the world’s largest farmed salmon producers, SalMar harvested about 25,750 metric tons in the fourth quarter, and the company expects to harvest about 103,500 metric tons in 2011.
“The fourth quarter of 2010 completed a very good year for the SalMar Group. Naturally, the high price of salmon made a substantial contribution to the company’s strong performance in both the fourth quarter and in 2010 as a whole,” said SalMar CEO Leif Nordhammer. “Throughout 2010 we have been working to facilitate for further volume growth throughout our value chain. The construction of the new harvesting and VAP plant in Froya, the acquisition of new farming licenses, the exploration of synergies and the further development of our organization have all been important focus areas. With the foundation that has now been laid we expect substantial growth and increased efficiency for SalMar in the years ahead. We feel confident that we have, through the year, laid a strong foundation for the company’s future development.”
