Lighthouse Caledonia ASA on Thursday released its third-quarter results.
The Scottish farmed salmon producer posted a record quarterly operating profit of GBP 4.3 million (USD 7.1 million, EUR 4.8 million) in the third quarter of 2009, up from just GBP 495,900 (USD 822,388, EUR 552,973) in the third quarter of 2008.
The company also recorded operating revenues of GBP 20.1 million (USD 33.3 million, EUR 22.4 million) this year, down from 12.1 million (USD 20.1 million, EUR 13.5 million) last year.
Lighthouse Caledonia harvested 6,407 metric tons of headed-and-gutted salmon in the third quarter of 2009, up from 4,672 metric tons in the second quarter of 2009 and from 4,922 metric tons in the third quarter of 2008. The company is on track to produce 21,500 metric tons this year, which would be down slightly from 22,000 metric tons last year.
"We are pleased with the progress made in the third quarter; we have met expectations," said says OddGeir Oddsen, CEO. "The results have been characterized by the strong market conditions with the continued premium for Scottish Salmon. The performance of the stock also continues to be excellent, as a result of adhering to Company's strict bio-security measures. Furthermore, the quality of fish harvested has also been high."
Lighthouse Caledonia represents approximately 20 percent of Scotland's salmon production.
November 5, 2009
