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Scottish Salmon Co. swings to loss in Q3

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Scottish Salmon Co. swings to loss in Q3

The Scottish Salmon Co. PLC said its normalized net income for the third quarter came to a loss of £7.9 million, compared with income of £448,130 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 31.6% from 2.5% in the year-earlier period.

Total revenue increased 40.1% on an annual basis to £25.1 million from £18.0 million, and total operating expenses grew year over year to £37.6 million from £17.3 million.

Reported net income came to a loss of £10.2 million, or a loss of 5 pence per share, compared to income of £441,000, or 0 pence per share, in the year-earlier period.