Q1 brings third-highest turnover ever for Lerøy Seafood Group

NORWAY
Monday, May 20, 2013, 05:00 (GMT + 9)

The prices achieved by Lerøy Seafood Group for Atlantic salmon and trout in the first quarter of 2013 are much higher than in Q1 2012 and production costs for both species in the same period are substantially lower than in Q1 2012 and also Q4 2012, but the group estimates that higher feed costs will yield higher production costs this year. As a result, in Q1 2013, Lerøy had a turnover of NOK 2.3 billion (EUR 305.4 million) -- the third highest in the history of the Group -- up from NOK 2.2 billion (EUR 292.2 million) year-on-year and an operating profit before value adjustment for biomass of NOK 369 million (EUR 49 million) versus NOK 103 million (EUR 13.7 million). The expected price increase for Atlantic salmon and trout in Q1 generated an increase in sales despite the 8 per cent fall in slaughtered volume year-on-year. Lerøy's production co... FULL STORY