Grieg Seafood on Tuesday reported its fourth-quarter and year-end results, including fourth-quarter EBIT of NOK 246.9 million, up from just NOK 62.9 million during the same period last year.
For 2010, the Norwegian company’s EBIT increased to NOK 639.8 million from NOK 153.9 million last year. The firm credits improved profitability to increased salmon prices, increased harvest volumes and improved biological performance.
Grieg’s total harvest volume also rose more than 12 percent to 17,836 metric tons in the fourth quarter, and it expects its total harvest volume to reach 64,800 metric tons in 2011, including 11,600 metric tons in the first quarter.
Grieg isn’t the only European seafood company to report its best year on record in 2001; Aker Seafoods and Cermaq ASA also did so in the past week.
