Strong year for Scottish Salmon Co.

The Scottish Salmon Co. on Wednesday released its fourth-quarter and year-end results.

The company’s fourth-quarter net operating revenue totaled GBP 29.2 million, up from GBP 22.9 million in the same period in 2009, while its EBITDA before fair value adjustment of biomass came to GBP 6.9 million, up from 6.1 million in 2009. Its fourth-quarter sales totaled 7,664 metric tons (gutted weight equivalent) of salmon.

As for all of 2010, the company’s net operating revenue reached GBP 92.4 million, up from GBP 64.6 million in 2009, and its EBITDA before fair value adjustment of biomass amounted to GBP 27.3 million, nearly double 2009’s total.

The Scottish Salmon Co. harvested 24,516 metric tons of salmon last year, exceeding expectations. Due to the cyclical nature of the farming cycle, the 2011 harvest is expected to total 22,000 metric tons. The firm said it is working toward an annual production capacity of 40,000 metric tons by 2013 and plans to yield 28,000 metric tons in 2012. To reach its goal, the company said it will optimize current sites, developing new sites and look at potential acquisitions.

“The successful operational performance in 2010 was underpinned by a strong market for Scottish salmon,” the company said in a statement. “It is anticipated that the price premium for quality Scottish salmon will continue into 2011, which will provide optimal market conditions for continued investment in the company’s growth strategy.”

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