Grieg back in black – Fishfarmer Magazine

Grieg back in black26 May, 2014 –

COMPANY accounts for 2013 reveal that Grieg Seafood Hjaltland has returned to profitability after AGD contributed to a multi-million-pound loss in 2012.

A report in the Herald states that Shetland’s largest farmed salmon producer lodged pre-tax profits of £148,161 for the year ending 31 December 2013.

Turnover also rose from £59.2 million in 2012 to 60.4 million. Company directors wrote in the accounts, filed at Companies House that they had entered into 2013 in a ‘challenging position’.

This was because the AGD outbreak had forced an early harvest, resulting in fewer volumes of salmon coming to the market at the start of the year.

However, a combination of rising prices and decreasing production costs led to a gross profit at the end of the year.

With current strong forecasts for 2015, the directors stated that ‘the prospects for market balanced supply and demand in the current year are also good.’