Looking for a specific product?

Make a search for products & suppliers, articles & news.

Record prices generate record operating profit

In Q1 2017 Lerøy Seafood Group (LSG) reported operating profit

leroyseafood

 

In Q1 2017 Lerøy Seafood Group (LSG) reported operating profit before fair value adjustments related to biological assets of NOK 1,277 million, compared with NOK 584 million in Q1 2016.

• CEO Henning Beltestad confirms: “For the first quarter of 2017, Lerøy Seafood Group can report their highest revenue and best operating profit of any quarter throughout the Group’s history. The salmon and trout prices have remained very high throughout the first quarter and are the most significant driver behind the record result reported by the Group. However, release from stock costs remain at a high level and we are working hard to reduce these costs,” confirms Henning Beltestad. 

• “With the acquisitions of Havfisk and Norway Seafoods, LSG is now Norway’s largest corporation within whitefish and has a major position within whitefish on a global scale. I am truly impressed by how the Group's employees have adapted to the new organisational structure while continuing to achieve record-high sales,” continues Henning Beltestad. “2017 has gotten off to a great start, and the outlook is very promising. We very much look forward to further developing the market for whitefish,” confirms the CEO.

Lerøy Seafood Group’s revenue increased from NOK 3,815 million in Q1 2016 to NOK 5,459 million in Q1 2017. Compared with Q1 2016, the Group's slaughter volumes of salmon and trout increased by 13%. The Group’s profit before tax and before fair value adjustments related to biological assets was NOK 1,294 million in Q1 2017, compared with NOK 592 million in Q1 2016.
At 31 March 2017, net interest-bearing debt was NOK 2,327 million and the equity ratio was 55%.

Associated companies:


Related news

Latest news

Record Number Applications for the Innovation Award!

A total of 28 applications for the Nor-Fishing Foundation Innovation Award, – which includes a check for NOK 100 000 – has been received by the deadline the 1st of May. This represents a 36% increase from record year ...

Midt-Norsk Havbruk and Plastsveis enter into agreement to build smolt facility

“We have followed the development of technology for smolt production carefully for several years,

DNV GL launches on-demand, web-based forecasting at WindPower 2017

Energy traders and plant operators gain online access to hourly forecast data at plant and regional level...

International Quality Awards announced

The Chartered Quality Institute (CQI) launches a series of quality awards designed to recognize the contribution of quality professionals across the globe.

Record prices generate record operating profit

In Q1 2017 Lerøy Seafood Group (LSG) reported operating profit

New Land Based Contract

AKVA group secures new Land Based contract with Midtnork Havbruk

Offshore Wind Energy 2017, London

Oglaend System will exhibit at the Offshore Wind Energy 2017 from 6.-8. June at ExCel London. Visit us at stand N-K30.

Closed at May 17th

Seacat Liberty (YN 81) has been launched

Seacat Services latest fleet addition, Seacat Liberty, was launched May 12th, 2017.