September 1, 2015 / 4:41 AM / 2 years ago

BRIEF-Scottish Salmon cuts 2015 output target by 10 pct

Sept 1 (Reuters) - The Scottish Salmon Company says:

* Net Q2 operating revenues of £31.2 million (£33.8 million)

* Q2 EBITDA £4.3 million (£6.7 million)

* Q2 pretax loss £4.7 million (profit £9.1 million)

* The originally forecasted annual harvest volume of 30,000 tonnes is being revised downwards by approximately 10%, as logistical synergies achieved in the quarter have been offset by a combination of market factors and biological challenges

* EBIT/kg before fair value adjustments of £0.33 (Q2 2014: £0.61)

* Harvested 7,349 tonnes (Q2 2014: 8,027)

* Highest export levels to date at 49% (Q2 2014: 42%)

* Q2 results reflect the impact of unprecedented price volatility, fluctuating exchange rates, and lower harvest volumes

* In addition to the expected seasonal price variance, increased volume available in the market had a negative effect on price

* Says confident about long-term future growth

* Preparatory work for two new sites at Scadabay and Reibinish in the North has now been completed and they are due to be stocked in Q3 Further company coverage: Eikon Source Text: (Reporting By Joachim Dagenborg)

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