Salmon farmer and seafood processor Leroy Seafood Group reported profits of NOK 550 (USD 92.9 million, EUR 67.7 million), up substantially from NOK 369 million (USD 62.4 million, EUR 45.5 million) in the first quarter of 2013.
Revenue also increased to NOK 3.18 billion (USD 537,343/EUR 391,688) compared to NOK 2.33 billion (USD 394 million, EUR 287 million).
The company harvested 33,336 metric tons (MT) gutted weight of salmon and trout, up from 33,231 MT during the same time period in 2013. Leroy expects to harvest a total volume of 163,000 MT in 2014.
The company credits an increase in price of 32 percent for salmon over 2013, resulting from limited growth in the global supply of Atlantic salmon in 2013 and the start of 2014 together with strong growth in demand.
Revenue from the firm’s farming operations totaled NOK 1.42 billion (USD 240 million, EUR 175 million) in the first quarter of 2014, up from NOK 1.17 billion (USD 198 million, EUR 144 million) in 2013. The total value of the value-added processing segment was NOK 367 million (USD 62 million, EUR 45 million), up from NOK 255 million (USD 43 million, EUR 34.1 million).
