May 22, 2007

 

Norway's Leroy seafood gains markets abroad

 

 

Norwegian fish company Leroy Seafood Group has seen a rise in new markets for its salmon products, with a doubling of exports to Ukraine and Thailand seen in 2006.

 

The company's markets now include Asian countries like South Korea, Hong Kong, Thailand and also South Africa and Israel.

 

Operating revenue for the first quarter this year was NOK 1,491.1 million (US$246 million) compared with NOK 1,113.3 million (US$183.8 million) for the same period in 2006.

 

Although the company may face challenges keeping up with demand, the outlook to the industry remains bright, director general Ole-Erik Leroy said.

 

Even with higher revenue, first quarter profits fell drastically to NOK 87.9million (US$ 14.5 million) in the first quarter of 2007 compared with NOK 223.90 (US$37.0) million in the first quarter of 2006.