Salmon firm nets record earnings as sales recover

Marine Harvest has announced record profits as exports of Scottish farmed salmon continue to grow.

The Norwegian seafood giant, which has its main Scottish base in Fife, posted operational earnings before interest and tax (Ebit) of €181 million (£161m) in the fourth quarter of 2017 despite a challenging year for fish health.

For the year as a whole, Ebit came in at a record €792m for the group.

Ben Hadfield, managing director of Marine Harvest (Scotland), said: “Despite a challenging year for fish health we produced record results in Scotland.

“My thanks go to our hardworking employees across the west coast and Highlands and Islands.”

The firm noted that a key factor in the strong performance had been the quality and size of the salmon grown by the company. More than 96 per cent of the output produced was rated as superior quality, which attracts higher prices.

Marine Harvest is the largest salmon farming company in Scotland.