The latest statistics released by the international seafood group Alfesca, which owns Lyons Seafoods in England and Farne Salmon in Scotland, show record sales for its second financial quarter ending in December - its busiest period.

Net sales totalled 262.1million euros (around £195million sterling) - a sharp increase of 11 per cent on the same period in 2006. The company said there was satisfactory growth in all four core pillars of its business. Branded smoked salmon sales delivered very strong growth, particularly in France and sales in the prawns and shellfish pillar showed very strong growth, both in Britain and again in France. The other pillars include blinis and spreadables and foie gras and duck.

The company said the strong euro against the pound sterling had a negative impact on the UK sales figures, which would have been better by €2.7 million if the same exchange rate as last year was applied. However, on the other side of the coin, the exchange rate had a positive impact in relation to purchase of Scottish salmon sold in Europe.

The company also said that adverse market conditions negatively impacted the sales of fish trading activity but this category makes little contribution to the Group's profitability.

Group chief executive Xavier Govare said: "Given our festive range, our second quarter covering the Christmas season is a very important period for us. We are very pleased with the sales results which show a balanced growth across all four pillars of our business, led by our high value branded products. Last year acquisitions, particularly in the French prawn market delivered their expected contribution to this continuous growth."

Mr Govare said the new 2007-8 financial year has started very well, even though the company was facing exceptional commodity price increases, along with other food producers.

The Glitnir Bank, which specialises in seafood financial matters, said the results were in line with expectations and the group's operations 'seemed satisfactory'. Glitnir is recommending investors to keep hold of Alfesca shares, presumably in the expectations of new acquisitions and further growth.

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