Chilean crisis is a bonus for Scots salmon farmers

TURNOVER at Orkney-based salmon farmer Mainstream Scotland leapt by 85 per cent to £39.9 million in 2010 as demand for Scottish fish soared on the back of disease problems in Chile.

Norway-based parent company Cermaq sold Mainstream to Oslo-listed salmon processor Morpol in August for NKr350 million (40m).

In September, Morpol bought up the shares it did not already hold in Norwegian rival Marine Farms, which owned Bellshill-based salmon producer Lakeland, for NKr 671m.

Morpol, which was founded in Poland in 1996, has since brought together Lakeland and Mainstream - which it renamed Northern Isles Salmon - as Meridian Salmon Group.

Accounts filed at Companies House for Mainstream show it swung from a 4.4m loss in 2009 to an underlying profit of 5.3m in 2010. The Scottish company's bottom line was boosted to 27.8m after Cermaq waived 22.5m in payments that were due to the former parent group.

Writing in the directors' report, company secretary and financial controller Roger Dart said: "The company had a good trading year as a result of high salmon prices and improved performance from fish stocks.

"A decision made in 2009 to cease farming trout and the acquisition of additional sites in 2010 will enable the company to produce greater volumes."

In August, Mainstream Scotland bought Westray Salmon for 3.3m and Rysa Salmon Farm Partnership for just under 2m.

Staff numbers edged up from 100 to 101, with the wage bill increasing from 2.5m to 2.8m. No dividend was recommended.

Scotland's salmon producers have enjoyed a boost from the collapse of the Chilean fish farming industry following outbreaks of disease.