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Marine Harvest Q3 profit up by €10m compared to 2017

Marine Harvest's Scottish workers have helped the company increase Q3 profits. Photo: FFE
Marine Harvest's Scottish workers have helped the company increase Q3 profits. Photo: FFE

Marine Harvest made a third-quarter operating profit of €204 million, up from €194m in the same period last year, it announced in a trading update today.

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The company harvested 110,000 tonnes of fish (gutted weight equivalent), slightly up on the 108,000 tonnes guided in its Q2 2018 report and 14,500 tonnes more than in Q3 2017.

Marine Harvest Scotland harvested 9,000 tonnes, about the same amount of fish as in the previous quarter but 500 tonnes fewer than guided in this year’s Q2 report.

Northern Harvest

Marine Harvest Canada harvested 12,500 tonnes, which included fish from its recently-acquired Atlantic Canada operation, Northern Harvest.

Ireland was the most profitable operation per kilo, with an operational EBIT of €3.45/kg, followed by the Faroes (€2.80/kg) and Norway (€2.25/kg).

Scotland earned €1.35/kg, Chile €1.25/kg and Canada €1.05.

The full Q3 2018 report will be published on October 31.

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