Norway Royal Salmon growth plans

NORWAY Royal Salmon (NRS) is aiming to boost production by 40 per cent, having been granted 10 new licences since the start of 2014, Fish Farming Expert reported.
But the company harvested 35 per cent less in the final quarter compared to the same period in 2013.
According to Intrafish, the company’s operating revenues fell from NOK 851.4 million to NOK 781.4 million year on year, while earnings before interest and taxes amounted to NOK 59 million, down from NOK 91.3 million in the same quarter last year.
But CEO Charles Hostlund described the results as ‘strong’.
For the whole year, the company posted operating revenues o NOK 2.6 billion, which was on par with turnover in the previous year.
‘NRS has been awarded nine new green licences at a price per licence of NOK 10 million,’ said Hostlund.
‘In addition, NRS was awarded a new licence earlier in 2014, which is now in production.
‘This can potentially give NRS a capacity growth of 40 per cent, where a large part of the production of the group is based on green criteria, which gives a more sustainable production, as well as strengthens the group’s position in Region North further.
‘The group is in a position to take this challenge.’