NZ King Salmon – tonnes of fish dead, but on course to post “healthy profit”

News
274

New Zealand King Salmon (NZKS) expects to post its 2018 results in late August.

The company, which farms King salmon in the Marlborough Sound, is on track to post a $25 million annual profit from its eight farms. This despite tons of dead fish due to hot weather, writes Stuff.

“Export sales were highly successful, especially the marketing of the company’s premium Ōra King and Regal brands sold in hundreds of restaurants overseas”, managing director Grant Roswarne said.

The annual report to be published in late August, shows sales volumes of 7,750 metric tonnes compared with 7,223 tonnes in 2017. The profit after tax was $22 million.

Roswarne expected 2019 harvest volumes to be pretty much the same as 2018, about 8000 tonnes, but death rates to be well below last summer. It gave an EBITDA forecast for the 2019 year of $25 million to $28.5 million, writes Scoop.

The company is in talks with the government  to relocate farms to cooler, deeper waters within the Sounds.