Scottish Salmon Co. rides out price volatility
The Scottish Salmon Co. on Thursday published its second-quarter and first-half results, declaring that contract sales and long-term partnerships will protect the company from the impact of price volatility, as farmed salmon prices continue to recede from historic highs.
The company’s net operating revenue for the second quarter of 2011 totaled GBP 31.7 million, up GBP 12.7 million from the second quarter of 2010, while sales reached 7,582 metric tons, up 2,666 metric tons). Profits came to GBP 8.5 million, up from GBP 5.5 million.
The Scottish Salmon Co. harvested 13,536 metric tons of salmon in the first half of 2011, up from 11,384 metric tons in the first half of 2010. The company expects to produce 23,000 metric tons in 2011, which would be down from 24,516 metric tons last year, but is anticipating increased production through 2013, 2014 and 2015.
“We are committed to building a sustainable business in Scotland that delivers value to all stakeholders and to that end we have been highly diligent in every aspect of our operations, from investing in sites through to working with local and supply chain partners. This is reaping results now and will underpin our future growth,” said Bill Hazeldean, CEO of the Scottish Salmon Co.