THE Scottish Salmon Company has reported a strong start to 2016, saying the majority of its sites delivered increased harvests.
Revenues were £29.1 million (up from £27.3 milion in Q1 2015) on harvested volumes of 6,741 tonnes (Q1 2014: 6,261 tonnes).
Harvest volumes compared favourably both year on year and with the previous quarter, when weather conditions and routine maintenance impacted on harvesting.
The company said the results were helped by a combination of more positive exchange rates, with the Norwegian krone strengthening, and encouraging market conditions, with industry prices continuing to rise in response to growing consumer demand and lower output from Chile.
Investment in growing export markets has continued with a major presence at two key trade shows – Seafood Expo Global in Brussels last month and Seafood Expo North America in Boston earlier in the year.
These were the first of 11 trade shows planned throughout 2016, in an effort to continue driving exports, which accounted for 43 per cent of total revenues in the quarter.
The SSC’s Native Hebridean Salmon was launched on to the international market at the Brussels exhibition, marking a milestone in the firm’s broodstock programme.
The company said years of research and development have produced a salmon with unique lineage and full traceability.
Bred from stock sourced directly from the waters off North Uist in the Outer Hebrides, the premium salmon has greater muscle density than other farmed salmon, says the SSC.
The company’s Label Rouge accreditations also boosted revenue, with the range extended to include packaged fillets for European markets.
Craig Anderson (pictured), managing director of the Scottish Salmon Company, said: ‘While 2015 was not without its challenges, we secured our second highest volumes and turnover.
‘We have continued this positive performance into 2016, demonstrating year on year growth and clear progress with our export strategy through marketing and innovation.
‘There were fewer external factors impacting on harvesting this quarter and the majority of sites met their projected yield.
‘A further 2,000 tonnes of consent is due to become operational this year, increasing harvest volumes as part of our long term plan for sustainable growth.
‘We have enjoyed a solid start to 2016 and, with strong prices forecast for the rest of the year and growing consumer demand, we are well placed to meet our growth targets.
‘Provenance remains at the heart of our business and we have ambitious plans for our exclusive new Native Hebridean Salmon range.’