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Profits surge for scots salmon firm

UK - Scottish salmon company Landcatch reports a surge in operating profits.

The latest report and accounts - released by Companies House this week - shows operating profits of £1.044 million for 2006.

The directors' report said that confidence had returned to the aquaculture sector and demand for product had exceeded availability, with higher prices and better credit terms being obtained and on-growers wishing to enter into long-term contracts to secure supplies.

Landcatch is involved in salmon breeding and the production of eggs, parr and smolts and has seen considerable success in export markets.

The directors said the Chilean industry continues to expand dramatically and the company's 50 per cent-owned joint venture, Landcatch Chile, was fully participating in this.

There are also in-roads into the Baltic industry. Landcatch has recently first delivered the first salmon smolts into Russia from anywhere in the world.