MARINE Harvest Consumer Products recorded a record high operational EBIT, the company announced yesterday, which was in large part down to its Scottish facility in Rosyth.
Operational EBIT for Consumer Products for the final quarter of 2016 was EUR 22.9 million (compared to EUR 9.8 million in 2015), which is an all-time high.
‘In spite of significantly increased raw material prices, our Consumer Products organisation has been able to improve earnings,’ said Marine Harvest’s report.
‘The increase is due to operational improvements as well as sales prices having been adjusted to reflect rising raw material costs.
‘Our Rosyth plant in Scotland contributed EUR 11.4 million of the total EUR 13.1 million improvement in Operational EBIT for the fourth quarter of 2016 compared to the fourth quarter of 2015.’
The results for the Rosyth plant improved significantly from the end of 2015 and the first part of 2016, when they were heavily impacted by preparation and start-up costs.
The factory underwent a management change in April last year, with Bertil Buysse being brought in to oversee the operation. It broke even for the first time in the third quarter of 2016.
The plant, one of the UK’s largest processing facilities, covering 200,000 sq ft, began production in early 2015 and was part of an £80 million investment by Marine Harvest in Scotland.
Late in 2015, Marine Harvest won the Sainsbury’s salmon contract, said to be worth around £100 million a year, from Young’s Seafood.