Lighthouse Caledonia ASA on Wednesday announced its first-quarter results, including revenues of GBP 24 million (USD 34.3 million, EUR 28 million), up from GBP 6.2 million in the same period last year.
The Scotland-based salmon farmer attributed the increase mainly to harvest volumes more than tripling to 6,448 metric tons in the first quarter of 2010.
Lighthouse Caledonia also reported a first-quarter profit of GBP 6.6 million (USD 9.4 million, EUR 7.7 million), compared to a loss of GBP 13,500 last year.
The company said it is on track to meet forecasted harvest volumes for 2010 and has a clear vision to reduce costs and maximize processing efficiencies to maintain profitability.
“This has been another successful quarter and we are delighted with the company’s progress,” said Lighthouse Caledonia CEO Mike Corbett.
“Fundamental to this has been our commitment to the communities in which we operate, encouraging year-round employment and professional farming methods, processing and product development,” he explained. “The performance also reflects the strong market for Scottish salmon with favorable market conditions and strong prices, which are anticipated to continue throughout 2010. Key to the company’s success is the development of the brand strategy and securing long-term market relationships, which maximize premium price opportunities for Scottish salmon.”
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