Brighter message from Atlantic Sapphire

In a statement for the Oslo Stock Exchange, the company reports that it has harvested 670 tonnes HOG (heads on, gutted) in the final quarter of 2024, following on from the figure of 1,300 tonnes in the third quarter.

Atlantic Sapphire said: “In addition, approximately 150 tonnes of small fish was culled to increase future harvest size by adapting the standing biomass to the current feeding capacity. “

During the same period, the net biomass gain was approximately 1,150 tonnes live weight.

The standing biomass at the end of the period was 3,180 tonnes live weight  The total harvest volume for the year 2024 was approximately 4,400t HOG (2023: 1,545 tonnes).

Atlantic Sapphire said that during the fourth quarter, biological development progressed favourably with stable water quality and temperatures, low mortalities, and increased harvest weight following the operational measures taken to increase harvest size.

“The realised average harvest weight in the quarter was 2.37 kg HOG. The company has adapted its biomass to current feeding volumes and expects further increased average harvest weight in the first quarter of 2025,” the statement added.

The company will provide more financial details in its 2024 annual report, which will be published on Thursday 23 April, after trading hours.

Atlantic Sapphire is now effectively under a new regime, following management changes last year when it raised US $80m (around £66m). The company said it is using the capital to address the issue of bottlenecks in production.