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Scotland’s largest independent salmon farming business has posted strong results during Q3.
Lighthouse Caledonia’s Q3 2009 profits were £4.3m, up from just £495,900 in Q3 2008 when the company was under the management of its previous board.
The company also recorded operating revenues of £20.1m this year, from £12.1m last year.
Lighthouse Caledonia harvested 6,407 tonnes of salmon in Q3 2009, up from 4,672 tonnes in Q2 2009 and from 4,922 tonnes in Q3 2008. The company is on track to harvest 21,500 tonnes this year.
Jim Mullins, Chairman of the company, said: “We are very pleased with the progress made this quarter. We have worked hard to put in place a strong and sustainable business producing a high-quality product.”
In March 2009, Northern Link Ltd, a global private equity investor advised by Edinburgh-based First Mercantile Partners, rescued Lighthouse Caledonia from the brink of administration and took a leading role in the restructuring of Lighthouse Caledonia with a £17million rights issue.
Should fisheries be closed during breeding time to allow stocks to reach more sustainable levels?
