“Tough, profitable” sector works for niche operator

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“The growth has been great, and we thought at various times that it had flattened out, but it’s shot up again. It seems as though growth in aquaculture moves in step-like fashion, said AQS manager, Ove Loefsnaes, to newspaper Namdalsavisa.

“Now, it’s been flat for a while, but when the fight against sea lice started yielding dividends, the arrow started to point upwards again.”

AQS provides specialized services for the aquaculture industry from its Flatanger base in northern Trondelag County to salmon farms between Hammerfest in the north to Hitra in the south. The company operates 16 vessels, including three rentals.

Lofsnaes singles out the growing salmon-farming scene in Flatanger as an important reason for the company’s steady growth: “We’re in interesting times. But it’s still demanding. It’s a tough segment with great competition for customers. It’s probably tougher than it is profitable.”

Last year, AQS saw net profit of EUR 465,000 in net profit on turnover of EUR 15.6 million.