SSC reports record earnings in 2018
THE Scottish Salmon Company (SSC) had a record year in 2018, with operating profits increasing from £38.7 million to £56.3 million.
The company made £180.1 million in 2018, compared to £151 million the previous year. Fourth quarter revenue rose by six per cent to reach £42.5 million, while EBIT/ kg increased 20 per cent to £1.14, attributed to a 2.5 per cent increase in harvest volumes and strong prices.
SSC harvested 29,913 tonnes during 2018, up from 25,272 tonnes in 2017, and has set a harvest target of 31,500 tonnes for 2019.
CEO Craig Anderson said record Q4 results were ‘driven by strong operational performance across the value chain, good biological perfor- mance and a positive market environment’.
Some 61 per cent of sales in Q4 were exports, up from 58 per cent in the same period in 2017, while exports for the whole of 2018 accounted for 58 per cent of sales.
‘Throughout 2018 we focused on driving export growth. Our commitment to Scottish provenance and quality are key differentiators in the international market place, said Anderson in a market update on March 1.
‘Our brands, underpinned by this unique Scottish provenance, have contributed to our export achievements over the past 12 months
‘Lochlander Salmon was successfully introduced into North America and Tartan Salmon Label Rouge launched in France, growing our market share in these territories.
‘Developing our presence in North America and the Far East remain our focus. While, like any business, we have been monitoring Brexit negotiations closely, we have a global perspective and robust long-term strategy in place to support growth.’