Positive 3Q for Lerøy Seafood

By

SeafoodSource staff

Published on
November 11, 2009

Lerøy Seafood Group on Thursday reported third-quarter sales of NOK 1.9 billion (USD 337.2 million, EUR 226.1 million), up 28 percent from the same period last year.

The Norwegian company also posted a third-quarter operating profit of NOK 275.3 million (USD 48.9 million, EUR 32.8 million), more than double last year’s third-quarter total.

The Lerøy board was “very satisfied” with the company’s third results.

Lerøy attributed its results largely to higher prices of its two main seafood products — Atlantic salmon and salmon trout, or steelhead. Export prices for whole Atlantic salmon were up 13 percent in the third quarter, compared to the same period in 2008. The company also cited falling production costs this year, a trend it expects to continue.

Income from Lerøy’s affiliate companies, including Norskott Havbruk (Scottish Sea Farms Ltd.), reached NOK 14 million (USD 2.5 million, EUR 1.6 million) in the third quarter, up from just NOK 1.5 million (USD 267,000, EUR 179,000) during the same period last year.

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