Scottish Salmon Co. (SSC) on Wednesday released its annual report for 2013, showing EBIT GBP 10.63 million on GBP 82.4 million in revenue.
That is a huge turnaround from an EBIT loss of GBP 1.7 million in the previous year.
SSC harvested volumes of 20,825 MT of Atlantic salmon in 2013, slightly down from 23,945 in 2012.
The company said while the improvement is in part due to the increase in global salmon prices, it is pleased to report that it continues to demonstrate effective cost controls and is delivering on its principal production and sales strategies.
“As demand continues to grow the group will continue to incest in sustainable expansion through its strategy of securing new licenses to increase volumes, and the achieve a better production balance. The group will continue to explore other opportunities within aquaculture to invest in other complimentary businesses as it has done in the past through Scottish Seafood Investments,” said Craig Anderson, SSC managing director. “In 2013, we purchased Langass Hatchery and invested in brood stock expertise as part of our aim to produce local Hebridean salmon. Our broodstock program is currently focused on producing superior salmon, with the optimum taste and texture for smokers.”
SSC expects salmon prices to hold firm over 2014 and 2015, with the growth of global supply to be limited to 2 to 8 percent. The company said it expects to harvest 27,000 MT in 2014.
