Record half year rev­enue for SSC

Fish Farmer - - United Kingdom News -

THE Scot­tish Salmon Com­pany has re­ported a 25 per cent in­crease in rev­enue in the first half of this year com­pared to 2016, to a record £72 mil­lion.

Har­vest vol­umes, though, were down on last year’s, from 13,123 tonnes to 11,617 tonnes, due to bring­ing har­vests for­ward in the sec­ond half of 2016, re­duc­ing avail­abil­ity for 2017.

The strong per­for­mance was sup­ported by the buoy­ant mar­ket, in­creased mean weights of har­vested stock and a con­tin­ued fo­cus on im­prov­ing op­er­a­tional ef­fi­ciency, said the com­pany.

Grow­ing de­mand for salmon, par­tic­u­larly of Scot­tish prove­nance, im­proved the price and sub­se­quently earn­ings have risen sub­stan­tially year on year with EBIT/kg be­fore fair value ad­just­ment of £1.65 (H1 2016: £0.39).

The SSC said that while bi­o­log­i­cal chal­lenges re­main, its abil­ity to man­age the sit­u­a­tion has im­proved sig­nif­i­cantly com­pared to last year.

Ex­ports ac­counted for 52 per cent of all sales value, com­pared to 42 per cent in the first half of last year, with new mar­kets in the Far East and an ex­panded pres­ence in North Amer­ica.

Con­sent was se­cured for an ad­di­tional 2,000 tonnes at a site at Portree on the Isle of Skye, with a num­ber of other pro­pos­als for site devel­op­ment un­der­way. The Portree site will be stocked in 2018, with first har­vests

an­tic­i­pated in late 2019.

Craig An­der­son, CEO of the com­pany, said: ‘De­mand for pre­mium qual­ity Scot­tish salmon across the globe has never been higher and we have max­imised the op­por­tu­ni­ties this pro­vides, ev­i­denced by a record half year per­for­mance.

‘Ex­port sales have risen ex­po­nen­tially in key ter­ri­to­ries like Ja­pan, where we have just ex­hib­ited at the Seafood Expo. The re­sponse to our prod­ucts has been over­whelm­ingly pos­i­tive, par­tic­u­larly our unique Na­tive He­bridean Salmon which has such a strong prove­nance story.

‘Our strat­egy for long term sus­tain­able growth is pay­ing div­i­dends, with an­other site ex­pan­sion con­sented in the pe­riod and a ro­bust pipe­line in place.

‘Our pro­gramme of site devel­op­ment and se­cur­ing long-term cus­tomer re­la­tion­ships at home and over­seas are the fun­da­men­tals which un­der­pin this growth strat­egy and re­main our key fo­cus for the re­main­der of 2017.’

Above: Scot­tish salmon - a ‘strong prove­nance story’

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