New Zealand fishing company Sanford reported a 5.5 percent profit increase to NZD 14.1 million (USD 11.4 million, EUR 8.8 million), up from NZD 13.3 million (USD 10.8 million, EUR 8.3 million) in the same period last year, for the first six months ending 31 March 2013.
Revenue for the period also increased by 6.2 percent to NZD 244.6 million (USD 198 billion, EUR 153 million), while EBIT decline by 8.2 percent to NZD 27.4 million (USD 22 million, EUR 17 million) compared to NZD 29.9 million (USD 24 million, EUR 18.7 million) in 2012.
Greenshell mussel revenue was equivalent to last year although volumes were down with slower growth rates in the Marlborough Sounds impacting both Havelock and Christchurch, said Sanford.
Improved throughput at the North Island Mussel Limited plant in Tauranga offset some of the decline in Malborough. Increased salmon sales on the domestic market were achieved through a strategic relationship with a large retail organization, couple with improved opportunities in international export markets for frozen salmon, which resulted in a substantial reduction of inventory.
Improved skipjack tuna catches by both the Pacific tuna fleet and the inshore Tauranga vessels saw strong revenue gains the last two months of the period.
Deepwater returns remained stable but profitability from aquaculture operations declined from lower harvested volumes of Greenshell mussels and low salmon prices. Pacific tuna operations improved over last year, some vessels were unavailable for part of the season.
Prices over the first six months have remained reasonably firm and stable for most species and markets and demand are firm.
