Stolt Sea Farm reported a second quarter operating profit as of May 31 of $7.4 million, compared with an operating loss of $0.1 million in the first quarter. The company, a division of Stolt-Nielsen Ltd., attributed the positive results were due to increasing turbot prices.
The London-based company expects Stolt Sea Farm will continue to benefit from price recovery for both turbot and sole going forward.
Stolt Sea Farm is a division of the London-based Stolt-Nielsen Ltd., which also incorporates Stolt Tankers, Stolt Tank Containers, Stolthaven Terminals and Stolt-Nielsen Gas. The company’s overall second quarter profit was $25.7 million, up from $1.5 million in the first quarter of the year. Revenue for the second quarter was $533.8 million, up from $519.4 million. Net profit for the first half of the year was $27.2 million, compared to $45 million in the first half of 2012.
