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Record First Quarter For Lery Seafood Group

Salmonids Economics +2 more

NORWAY - Lery Seafood Group have recently published its first-quarter results for 2011. The results show a record NOK 1.87 billion increase to NOK 2,23 billion, their largest increase to date.

The company’s operating profit totalled NOK 445.8 million in the first quarter of 2011 which is up from NOK 255.1 million in the first quarter of 2010. The rise is accountable to the higher prices of farmed salmon and salmon trout.

In terms of production for the first quarter of 2011, the total gutted weight of harvested salmon and salmon trout was 27,900 metric tons. This is up from 22,500 metric tons in the first quarter of 2010. EBIT (earnings before interest and taxes) per kilogram of fish came to NOK 16 in the first quarter of 2011, up from NOK 11.3.

Lerøy’s upward trend looks set to continue as contract prices for 2011 are higher than those for 2010.