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Marine Harvest makes €177m in last quarter of 2017

Marine Harvest's Faroe Islands operations were the most profitable per kilo  in Q4 2017. Photo: Marine Harvest
Marine Harvest's Faroe Islands operations were the most profitable per kilo in Q4 2017. Photo: Marine Harvest

The world's biggest salmon farmer, Marine Harvest, made an operating profit of €177 million in the final quarter of 2017, down from €259m in Q4 2016.

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The company's total Q4 harvest volume worldwide was 113,000 tonnes (gutted weight equivalents), slightly above the 111,000 tonnes it had predicted for the period, it said in a trading update.

The 4,000 tonnes of salmon from the Faroe Islands was most profitable, with an EBIT per kg of €3, closely followed by the 2,500 tonnes harvested by Marine Harvest Ireland, which had an EBIT of  €2.75 per kg.

Marine Harvest Scotland harvested 13,000 tonnes with an EBIT of €1.20 per kg, and the 66,500 tonnes harvested in Norway made a profit of €1.75 per kg.

The 17,000 tonnes harvested in Chile and the 10,000 tonnes from Canada were least profitable, with an EBIT of €1 per kg.

The complete Q4 2017 report will be released on February 14.

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