Major exporter Coast Seafood posts record high turnover growth

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Exporter increased turnover by more than EUR 3.1 million.

The company delivered a profit of EUR 6.5 million in 2018 of a total turnover of EUR 478 million.

“We are pleased to increase our turnover in a year where several of our competitors had reduced sales. But it is not to be ignored that we also felt pressure margins last year,” said Coast Seafood CEO Sverre Søraa to Fjordenes Tidende.

In 2017, the company delivered a profit of EUR 12.1 million and had a turnover of EUR 415.8 million.

In October, Coast Seafood bought Roadfeeders a freight company that handles a large part of the salmon sent in and out of Oslo Airport. Søraa told the publication that they are seeing improvements in the company, which before the acquisition, was in the red.

“We are bringing these figures into our accounts for 2018, but we are already seeing a positive development,” he said.

The large expansion rate in the company will continue in 2019, with the acquisition of two whitefish plants and a whitefish exporter in Norway.