Leroy Seafood Group on Thursday released its third-quarter results.
The Norwegian company’s third-quarter turnover reached NOK 2.3 billion (USD 400 million, EUR 282 million), up from NOK 1.9 billion during the same period in 2009, making it Leroy’s highest quarterly result ever.
Its operating profit totaled NOK 424.2 million (USD 36.1 million, EUR 74 million), up from NOK 275.3 million last year. The increase is attributed primarily to increased production and prices of Atlantic salmon and steelhead, the company’s main products.
Leroy also revealed that it harvested 31,000 metric tons of salmon in the third quarter of 2010, down from 23,500 metric tons during the same period last year.
The company said a drop in the global supply of Atlantic salmon for 2010 is expected, in addition to limited growth in the next few years, which should continue to strengthen demand for the product worldwide. As a result, Leroy anticipates better results in the fourth quarter than was achieved in the third.
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