The Scottish Salmon Company Plc: H1 2019 Report

 
TIDMSSC 
 
 
   Highlights and key figures for the six months ended 30 June 2019 
 
 
   -- Record revenues of GBP111.8m, driven by higher harvest volumes 
 
   -- EBIT/kg of GBP1.70 compared with the exceptional GBP2.11 achieved during 
      H1 2018 before fair value adjustment 
 
   -- Export sales reached 67% (up from 59% YoY), driven by successful 
      execution of export strategy 
 
   -- Awarded 3 star "Best Aquaculture Practice" (BAP) certification for all 
      processing facilities 
 
   -- Significant continued capital expenditure on infrastructure development 
 
   -- Dividend payment of NOK 0.57 per share 
 
   -- On track to achieve full year volume guidance of 33,000 tonnes and 45,000 
      tonnes target by 2025 
 
 
   Craig Anderson, CEO, said: 
 
   "The business has delivered strong results in the first half of the year 
and we remain committed  to responsible business growth through our 
well-defined strategy.  Priorities are: to invest in our operations, 
enhance operating efficiencies and maximise value; further strengthen 
the position of our brands; and increase exposure into key export 
markets, which now account for 67% of sales. 
 
   "In the first half of the year, we delivered record revenues of 
GBP111.8m, despite a softening in market conditions and contending with 
localised operational and biological events that impacted production in 
Q2. Over the long-term, the aim remains to deliver steady and 
sustainable growth.  We remain on track to achieve our target volume of 
33,000 tonnes by the year-end and 45,000 tonnes by 2025 with planning 
consent being obtained for two sites. 
 
   "Our ongoing investment strategy continues to demonstrate results and 
support increased production. As we achieve greater scale, we continue 
to make significant investments in site development, operational 
capacity, biological innovations and infrastructure.  The full benefit 
of this investment cycle will be realised going forward, ensuring we 
take advantage of an increasing share of global market potential as the 
demand for our Scottish salmon continues to grow." 
 
   Please find the full H1 2019 Report attached. 
 
   This information is subject to the disclosure requirements pursuant to 
section 5-12 of the Norwegian Securities Act 
 
 
 
   Attachment 
 
 
   -- SSC PLC H1 2019 report 
      https://ml-eu.globenewswire.com/Resource/Download/ccf6bf82-bd25-4be9-b049-a8aac35d15a1 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

August 30, 2019 01:00 ET (05:00 GMT)

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