SalMar Q3 results buoyed by fixed price salmon contracts
SEAFOODNEWS.COM [Reuters] - November 19, 2014 -
SalMar's earnings remained strong in the third quarter, despite biological challenges and lower salmon prices. The company achieved an Operational EBIT of NOK 438 million during the period, compared to NOK 360 million in the corresponding period last year. 60 per cent of the volume in the period was sold under fixed-price contracts and helped to boost the company's profits.
In all, SalMar harvested around 36,400 fish in the third quarter.
SalMar expects to harvest around 37,000 tonnes of Atlantic salmon in the fourth quarter 2014. Norskott Havbruk is expected to harvest around 27,000 tonnes in 2014 as a whole, with SalMar's share being 13,500 tonnes. SalMar expect to harvest 137 000 tonnes from its Norwegian activities in 2015. Scottish Sea Farms expects to harvest a volume of 31,000 tonnes.
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