Record high prices for salmon lead to record results for Lerøy

Lerøy Vest fish farms.Rongøy near Øygarden.Lerøy Vest fish farms.Rongøy near Øygarden. Foto: Marit Hommedal / NTB scanpix

Record high prices for Atlantic salmon and good trout prices contributed strongly to Lerøy achieving its best results ever in the first quarter of this year.

Lerøy Seafood Group had an operating profit of NOK 584 million in the first quarter this year, up from 404 million kroner in the same period in 2015, before fair value adjustment of biomass (fish in cages),  Lerøy reports on Thursday morning.
– With good price achievement as the main driver, the operating profit in the first quarter of 2016 is the highest in the group’s history, says CEO Henning Beltestad.
Revenues at 3.8 billion were 17 percent higher than in the first quarter last year. Lerøy harvested a total of 38,200 tonnes gutted salmon and trout, up from 35,000 tonnes last year.
The profit before tax and before fair value adjustment of biomass was at NOK 592 million, compared to 390 million in the same period last year.


Source: NTB scanpix / Norway Today