The Scottish Salmon Company PLC announced consolidated earnings and production results for the six months ended June 30, 2018. For the period, the company reported revenue of £98.3 million against £72.0 million a year ago. The positive performance in the first half of 2018 has been underpinned by a strong market for Scottish Salmon in general, increased weight of harvested stock and positive results from a continuous focus on operational performance. EBIT/kg increased 28% to £2.11 compared with £1.65 during first half of 2017. EBITDA was £37,550,000 against £23,293,000 a year ago. EBIT was £34,700,000 against £30,527,000 a year ago. Earnings before taxes were £34,053,000 against £30,429,000 a year ago. Net earnings from continuing operations were £27,160,000 against £24,254,000 a year ago. Net earnings were £27,160,000 against £24,254,000 a year ago. Basic and diluted earnings per share were 0.14 pence against 0.13 pence a year ago. Cash flow from operations was £30,290,000 against £12,192,000 a year ago. Purchase of property, plant & equipment was £8,455,000 against £5,991,000 a year ago. Purchase of intangible assets was £1,050,000 against £300,000 a year ago.

For the period, the company's harvest volumes were 15,777 tonnes, compared with 11,617 tonnes harvested in first half 2017. The Group's net interest bearing debt was reduced by £14.1 million to £24.4 million.

In light of good growth and favourable biology the company expects to harvest 28,000 tonnes in 2018.