Partly due to the record high salmon prices, seafood company Lerøy Seafood Group experienced a doubling of operating profits in the second quarter this year.
The company achieved an operating profit before fair value adjustment of biomass (fish in cages) of 760 million kroner in the second quarter. The corresponding figure in the same period last year was 370 million kroner.
– The price of Atlantic salmon reached record levels in the second quarter, and with this as the main driver Lerøy Seafood Group has achieved the highest revenues and the highest operating profit of any quarter in the group’s history, says CEO Henning Beltestad, who despite the impressive figures still keeps a level head:
– We are pleased to present a record result, but we still have considerable room for improvement. That is our focus, and we are working hard to ensure that, he emphasizes.
The company had sales of roughly 4.3 billion in the quarter, also a significant increase of over 900 million from the second quarter last year. Profits before tax and fair value adjustment of biomass was at NOK 775 million, 311 million more than in the corresponding period last year.
Source: NTB scanpix / Norway Today