Leroy Seafood said it had seen its “best quarter ever” as it reported higher sales and earnings before fairvalue biomass adjustments for the first three months to 2014.
Sales rose 36.4% year-on-year, while EBIT before biomass adjustment jumped 49%.
The company said: “The main driver behind the increased revenue and operating profit is higher price achievement for the group’s main products, Atlantic salmon and trout. This is the highest operating profit before biomass adjustment ever reported in a quarter.”
However, biomass adjustment – the value of biological assets less point of sale costs – weighed on the bottom line. When adjusted for biomass, EBIT fell 87%.
