Signs of progress at Grieg in Shetland

Fish Farmer - - United Kingdom News -

GRIEG Seafood is con­tin­u­ing to bat­tle with bi­o­log­i­cal and other prob­lems at its Shetland op­er­a­tions, but there are signs of progress, the group’s im­pres­sive 2019 first quar­ter fig­ures show.

Shetland har­vest vol­umes in­creased by 49 per cent from Q1 2018 to 1,788 tonnes, and rev­enues rose by 41 per cent from NOK 86.8 mil­lion to NOK 122.3 mil­lion.

How­ever, the di­vi­sion made an op­er­at­ing loss (EBIT) of NOK 24.9 mil­lion (about £2.2 mil­lion) com­pared to a loss of NOK 7.1 mil­lion in the same pe­riod last year. Grieg said that de­spite chal­lenges with gill re­lated dis­ease and win­ter ul­cers last year, the qual­ity of fish was high, with a good av­er­age weight.

And while the price achieved was also good, it was lower than a year ago.The sur­vival rate was 85 per cent.The com­pany said costs were likely to re­main high for the time be­ing, but it ex­pected a grad­ual re­duc­tion as har­vest vol­umes in­creased.

Grieg Seafood Shetland is co-op­er­at­ing with other sea farm­ers in the re­gion to es­tab­lish a more sus­tain­able marine bi­ol­ogy.

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