Record profits in third quarter

Year on year EBITDA increased by 14 per cent to 25 per cent at the end of Q3 2009. Lighthouse Caledonia plans to harvest approximately 21,500 tonnes by the end of the year, down from 22,000 tonnes due to harvesting and processing capacity, the company said.

“We are pleased with the progress made in the third quarter, we have met expectations. The results have been characterised by the strong market conditions with the continued premium for Scottish Salmon. The performance of the stock also continues to be excellent, as a result of adhering to company’s strict biosecurity measures, furthermore the quality of fish harvested has also been high”, said OddGeir Oddsen, CEO.

The strategic focus for Lighthouse Caledonia remains to develop the company to be the industry leader in Scotland, whilst ensuring sustainable production and achieving a more market led position.

The company has a clear goal to position its brand as 'Scottish' and continue to build brand values around the core competencies in the rural areas in which it operates, mainly on the West Coast and the Hebridean Islands of Scotland.

As part of the financial restructuring of the company, the sale of certain assets was to be included. The sale to Marine Harvest of Loch Seaforth on the Western Isles was one of these assets. Approval for the sale of Loch Seaforth has not been obtained from the French Competition Authority, this site will now remain in the ownership of Lighthouse Caledonia.

The company said it was a very positive development which helps to secure sustainable year on year harvesting volumes on the Western Isles and most importantly facilitates further developmental plans for processing operations to be started again on the Hebrides with the creation of local jobs.