Strong Q2 for Grieg but prob­lems re­main

Fish Farmer - - United Kingdom News -

HIGHER salmon prices helped pro­pel the Nor­we­gian fish farmer Grieg Seafood to higher prof­its and earn­ings dur­ing the sec­ond quar­ter of 2017.

But the com­pany said that sea lice and al­gae were pre­sent­ing chal­lenges at its Shet­land op­er­a­tions.

The com­pany re­ported an op­er­at­ing in­come of NOK 2,030 mil­lion, an in­crease of 21 per cent on the same pe­riod last year. The EBIT (earn­ings be­fore in­ter­est and tax) per kilo rose from NOK 19.20 to NOK 21.20. The har­vest vol­ume was 18,503 tonnes, up from 16,263 tonnes in the cor­re­spond­ing pe­riod last year, an in­crease of 14 per cent.

Grieg said it has been tak­ing steps to re­duce the pro­duc­tion time in the sea in Shet­land from 24 to 18 months.

‘Quar­ter two, 2017, saw the start of har­vest­ing of the first fish un­der the new pro­duc­tion plan, and be­cause of this the costs have fallen slightly...nev­er­the­less, costs re­main high in Shet­land.This re­lates es­pe­cially to bi­o­log­i­cal chal­lenges, where sea lice and al­gae are the main con­cerns.There is close col­lab­o­ra­tion with other fish farm­ing par­ties in the re­gion with a view to find­ing so­lu­tions to these chal­lenges.’

Above: Re­duc­ing pro­duc­tion time in the sea

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