Inflated costs eat away at Huon Aquaculture’s profits

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A warm summer year has led to lower revenues according to its latest report.

This year ended with an EBITDA of $58.9 million, down 28% from last year’s $82.0 million. Revenues where up 23% this year, from $259.5 million to $ 317.9 million. 

Harvesting volumes were up 25% from last year at 22,968 tonnes.

The average cost of production/kg in FY2019 is expected to remain unchanged on FY2018.

The company anticipate a harvest volume for FY2019 of around 20,000 tonnes, below the record level achieved in FY2018, however stronger pricing is expected to deliver continued growth in operating EBITDA.

A final dividend of 5.0 cents per share (cps) has been declared, resulting in a maiden full year dividend of 10.0 cps.