Record Q3 from Lerøy
THE Lerøy Seafood Group, whose operations now encompass salmon farming, white fish trawling and fish processing, reported its ‘best ever’ third quarter results.
The group – the parent company, along with SalMar, of Scottish Sea Farms – announced Q3 operating profits of NOK 861 million, up from NOK 481 million last year. This corresponds to operating profit of NOK 17.4 per kg against NOK 14.8 per kg in Q3 2016.
CEO Henning Beltestad said: ‘We have achieved the highest revenue and the highest operating profit ever to be reported by the group in a third quarter. We are pleased with such a good result, but there still remains plenty of room for improvement and this is where our focus lies.’
The farming segment harvested a total of 46,000 tonnes gutted weight of salmon and trout in Q3 2017, up by 45 per cent from the same period in 2016. This segment’s operating profit totalled NOK 715 million in Q3 2017, up from NOK 397 million in 2016.
‘The lack of growth in production together with a positive development in demand and the weaker Norwegian kroner have resulted in historically high prices for salmon,’ said Beltestad.