Camanchaca says salmon saved 2017 result

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The parent company of Oslo-listed Salmones Camanchaca said in an incomplete quarterly report on Wednesday that it’s salmon unit helped the whole company a profit of USD 15.8 million for 2017, a 16-percent improvement over 2016.

Compania Pesquera Camanchaca said Salmones Camanchaca’s profit of USD 31.1 million helped overshadow wild-fish losses of USD 13 million that came on 23 percent more revenue. It said it saw 17 percent higher salmon prices during the year, and harvesting costs were down nine percent.

“Sold volumes of own salmon fell 24 percent due to a minimum in inventory at the beginning of 2017 and reductions of sowings in 2015 whose impact was reflected in the first-half of 2017 in lower harvests and a strong increase in harvest in the fourth-quarter of 2017 that left production undelivered at the end of the year,” Pulso reported management as saying.

“This evolution of the results between one year and another account for a better average price for Atlantic salmon and favourable cost performance in the salmon farming activity,” a senior manager was quoted as saying.