Leroy Seafood on Thursday reported a NOK 107.9 million loss in profit to NOK 391.6 million in the first half of 2011, down from NOK 824.8 million in 2010.
The Norwegian company also reported a turnover of NOK 4.6 billion, up from NOK 4 billion for the same period in 2010.
The company had better results for the second quarter of the year with a turnover of NOK 2.4 billion, up from NOK 2.2 billion during the second quarter of 2010. This is the highest second-quarter result achieved for the company. Leroy also reported an increase in operating profit to NOK 440.3 million, up from NOK 367.8 million.
The increase is attributed to volume growth and improved salmon and trout prices. Harvest volumes, gutted weight, of salmon and trout were also up to 33,200 tons, up from 27,600 tons in 2010.
“A higher growth in the global supply of Atlantic salmon in the next few years compared with the last two years is expected. Development in demand is good, and lower prices provide grounds for optimism as to continued positive development in demand,” said the company. “On the back of lower prices, the board of directors currently anticipate a poorer result for the group in the second half of 2011 than was achieved in the second half of 2010.”
