Grieg Seafood Sees Huge Losses in Shetland
SEAFOODNEWS.COM [Herald Scotland] by Kevin Scott- October 24, 2016
THE LARGEST farmed salmon producer in the Shetland Islands has suffered a £14.4 million operating loss in part because of algae damage led to loss of stocks and high treatment expenses.
Grieg Seafood Shetland also booked a £3.5m impairment charge following the closure of its smokehouse and filleting plant.
Accounts newly filed at Companies House show the loss for 2015 equates to 88p per kilogram, and marks a sharp reversal from a £10.6m operating profit in 2014. Total harvest volume was down 2,861 tonnes to 16,370 tonnes.
High output prices were cited by the company as the ...
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