Scottish Salmon Co. on track for year-end goals
The Scottish Salmon Co. on Wednesday announced that it’s still on track to meet its year-end targets, including a total harvest volume of 23,000 metric tons.
The company’s third-quarter net operating revenue fell to GBP 17.8 million, compared to GBP 20.6 million during the same period last year.
Sales volumes were also down from last year, at 4,686 metric tons compared to 5,468 metric tons. The company said the drop is due to an imbalance in production cycles, which is currently being rectified with the development new and existing farm sites.
The drop in sales also affected profit for the quarter, which dropped to GBP 700,000 in the third quarter from GBP 4.8 million during the same period in 2010.
“The key focus for the company is to grow and develop production volumes to ensure consistent supply, year on year, through all stages of the farming cycle. By doing this the company can meet the requirements of its customer base and ensure long term sustainability,” said Bill Hazeldean, CEO of the Scottish Salmon Co. “Going forward, demand for Scottish salmon is anticipated to remain strong with a well-established strong domestic market developing export market. Our operations are running to plan and with funding in place for continued development we are confident of meeting our strategic objectives.”