Salmon farmer posts ‘strong’ Q1, exports

Published on
May 21, 2015

The Scottish Salmon Company achieved operational revenues of GBP 27.3 million (EUR 38.3 million; USD 42.7 million) in the first quarter of this year, which was GBP 400,000 (EUR 560,895; USD 626,444) less than in the corresponding period of 2014. However, the company’s harvest volumes increased by 4 percent year-on-year to 6,261 metric tons (MT).

Also in Q1 2015, it achieved stronger earnings before interest and taxes (EBIT) before fair value biomass adjustment of GBP 0.75 (EUR 1.05; USD 1.17), up from GBP 0.68 (EUR 0.95; USD 1.06) achieved a year previously.

During the last quarter, the company continued to build upon its export business and increased its reach into new territories. It now sells to 24 countries.

Preparatory work is also underway on two new farm sites that will be stocked this fall.

“We delivered a record breaking year in 2014 and with strong results for Q1 2015 we intend to continue to build on this success and ensure sustainable growth is achieved for the business and our shareholders. Maintaining customer partnerships and exports will remain a key priority during the year,” said Craig Anderson, managing director of The Scottish Salmon Company.

“2015 is already providing some strong opportunities with an added focus on the food sector resulting from Scotland’s Year of Food and Drink. We continue to have a strong platform for development with export sales now accounting for 45 percent of revenue.”

Scotland’s salmon exports achieved total sales of GBP 500 million (EUR 701.4 million; USD 783.1 million) last year for the first time.

Contributing Editor reporting from London, UK

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