February 28, 2008

Leroy reports 12-percent increase in fiscal 2007 turnover
 

Norwegian seafood company, Leroy Seafood Group, has reported a 12-percent increase in its year-end turnover but a lethargic Q4 result and less profits than in 2006.
 

Leroy's fiscal turnover in 2007 has increased to US$1.2 billion from US$1.07 billion in 2006.

The company's turnover in fourth quarter amounted to US$306 million, US$57 million lower than analysts' expectations due to a drop in salmon prices and a weakening brown trout market.

Leroy's 2007 pre-tax profit is at US$70.7 million compared to US$164.6 in 2006. The company's operating profit has also decreased to US$13.4 million from US$25.7 million in 2006.

Based in Bergen, Norway, Leroy Seafood Group is a seafood production and distribution company with operations in Europe, Asia and the Americas.