Approval of the Annual Accounts 2010

The Board of Directors of The Scottish Salmon Company Limited (SSC) has today approved the Annual Report for 2010 for SSC and the SSC Group.

The consolidated financial statements are in accordance with the preliminary figures released with the Q4 report issued on 16 February 2011, apart from corrections made to the biomass fair value adjustment of 2009 as previously announced on the 15 March 2010, in connection with the preliminary notification from the Finanstilsynet. The effect is a moving of EBIT from 2010 to 2009.

However, there are minor corrections to the statements since Q4 in relation to the change in provisional fair value assessments of licences in West Minch Salmon Limited and deferred tax. The net effect to comprehensive income for 2010 is approximately a £6m reduction of EBIT in 2010 and a corresponding uplift in 2009. There are immaterial changes to the Statement of Equity and the Statement of Financial Position.

The Annual Report for 2010 will be published on or around the 8 April.

 

Further information:  Robert Wilson CFO

Robert.wilson@scottihsalmon.com

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.