Record year for Tassal as 2017 results published

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Australian salmon farming company, Tassal, increased their revenue from $430 million to $450 million, according to their annual fiscal year (FY) report, which was published Wednesday.

All numbers in Australian dollars.

Their operating results were also up by 11 percent, from $61m to $68m.

They ended up with a net profit, before taxes, on $59.9m, which is a slight increase from $53.8m in 2016.

“The combination of high pricing, favourable sales mix and keeping fish in the water for longer, allowed Tassal to optimise its contribution margin despite the increased cost of growing,” writes the company in its report.

“Salmon was kept in the water longer to optimise growth and deliver optimised margins.”

Tassal is listed on the Australian Stock Exchange, with Melbourne as its HQ. The company has a different fiscal year, with financial statements from 30th of June to 30th of June.

They have more than 800 employees, and in 2017 they sold 12,541 tonnes of salmon on the domestic retail market.