Fourth quarter 2012 revenues for Scottish Salmon Co. (SSC) show a significant year over year increase driven by higher volumes, but higher than anticipated costs on the harvested fish had a negative impact on the results.
Profits reached GBP 27.75 million (USD 42 million, EUR 32 million) for the quarter, on sales volumes of 8,336 metric tons (MT) compared to 4,663 MT during the same time period in 2011.
The increase in harvest volume was driven by the need to harvest fish hit by amoebic gill disease (AGD) early. About 2,000 MT was lost due to issues relating to AGD.
The company reported an EBIT loss of GBP 1.93 million (USD 2.9 million, EUR 2.2 million) for the quarter compared to a profit of GBP 393,000 (USD 594,300/EUR 453,800) in the fourth quarter of 2011.
However, the company said “looking ahead there are sings for great optimism. Global salmon prices began to strengthen towards the end of 4Q and this situation is likely to continue into 2013, with demand growing and supply down in Scotland as the Scottish industry as a whole recovers from the impact of AGD.”
