Faroe Islands salmon producer The Bakkafrost Group has reported ‘significant improvements’ in its Scottish operation during the first quarter of 2023.
Bakkafrost is the third-largest fish farming company in the world and the second-largest salmon farmer in Scotland.
This week the firm reported a total operational profit of DKK 565 million (£66 million) in the first quarter of 2023, with its Scottish farming segment making an operational profit of DKK 155 million (£18 million).
It follows a loss of DKK 55m (£6.5m) 12 months earlier on its Scottish operation.
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The group also doubled its year-over-year production in Scotland, harvesting over 8,000 tons (MT) of gutted-weight salmon in Q1 2023, compared to less than Q1 2022, SeafoodSource reports.
Commenting on the result, CEO Regin Jacobsen said: “Overall, we are satisfied with the results in this quarter but especially with the improved results in Scotland. We saw early signs of improvements in Q4, where the application of best practices significantly improved the operations.
“Through this quarter and so far this year, we have maintained strong operations in Scotland. Premium high-quality salmon with our One Company strategy has materialized in our sales and branding and created extra value. Our customers recognize the high quality of our fish, whether it is farmed in Faroese or Scottish origin.”
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