The Groups in a statement said that its operating profit before fair value adjustment of biomass was NOK 100.3 million, whereas the corresponding figure for the fourth quarter of 2007 was NOK 65.7 million. It is told that this increase is remarkable compared to the same period last year. It is mainly due to an extremely positive development in the Sales and Distribution activity area and also by higher prices for Atlantic salmon.
In this Q4 the group’s EBIT of biomass was NOK 60.1 million as against NOK 69.1 million in the fourth quarter of 2007. As for the year as a whole, the profit in the fourth quarter was strongly characterised by the high production costs for part of the group’s salmon harvesting operations – see in connection with this the biological problems experienced by some parts of the group during 2007 and the first part of 2008.
The group said that it subsidiary company Lerøy Hydrotech’s results were negatively affected by a relatively large proportion of salmon trout in the fourth quarter. Also during the fourth quarter, the group’s accounts were depleted by costs as a consequence of the mandatory offer process period that Lerøy Seafood Group ASA has just been through.
It is informed that the company had a good development in underlying production within Scottish Sea Farms throughout fourth quarter. Other production units had satisfactory operations in the fourth quarter. In view of the international nature of our business, developments in the world economy will always have an impact on the Group’s activities.
