Q2: The Scottish Salmon Company more than doubles EBIT

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Increased EBIT before fair value adjustment and revenue for Scottish Salmon Company (SSC).

SSC posted EBIT before fair value adjustment of £20.1 million in Q2 2018 compared to £9.7 million in Q2 2017. Revenue increased from £11.7 million in Q2 2017 to £22.4 million in Q2 2018.

The positive performance in the first half of 2018 has been underpinned by a strong market for Scottish Salmon in general, increased weight of harvested stock and positive results from a continuous focus on operational performance, according to the company.

EBIT/kg before fair value adjustment was £2.33 compared with £1.63 during H1 2017.

Slaughter volumes increased from 5,932 tonnes in Q2 2017 to 8,641 tonnes in Q2 2018. The company has raised target for 2018 harvest volume to 28,000 tonnes from 26,500 tonnes.

Craig Anderson, Chief Executive at The Scottish Salmon Company said:

“We are pleased to report positive results for the first half of the year and
remain focussed on growing the business in a responsible and sustainable manner
through implementing operational efficiencies and driving market development.

“We have stated ambitions to increase exports worldwide and strengthening our
presence in overseas markets continues to be a core focus.”