Lighthouse Caledonia ASA have issued a preliminary report on their first quarter 2009 figures saying that harvest volumes were well down on from those in the same quarter in 2008 however this was compensated by prices which were £0.40/kg higher. Operating revenue for the quarter came to £6.2 million with earnings before taxes of £755,000.
The new board of directors, headed by Jim Mullins, said that market conditions were strong through-out Q1 with improved prices and increased demand around Easter, adding: 'The premium price for Scottish salmon continues to hold firmly in both UK and export markets.'
Another important point made in the preliminary report was the importance that Lighthouse places on synchronising production cycles throughout complete loch systems – the entire Loch Roag system has been fallowed this winter for the first time in 20 years and now 2.6 million smolts have been transferred to Loch Roag sites for harvest in 2010.
Although there has been low stock mortality over the quarter, growth has been slower than expected due to lower water temperatures. The tonnage harvested during Q1, 2009 was only 2039 tonnes HOG (compared to 5082 tonnes in Q1, 2008) however most of these were from sites close to the Lighthouse processing plant at the head of Loch Fyne making the harvest process more efficient.
Looking forwards, the company expects low mortalities and good biological performance to continue.
The board of directors cautions that the company’s 2007 accounts are being reviewed which means that their 2008 accounts will not be finalised until June 15 and the Q1 figures will not be available until after the AGM on June 30.
Should fisheries be closed during breeding time to allow stocks to reach more sustainable levels?
- 19 - 20 May, 2010
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