Sealord posts increased earnings for Tasmanian salmon farmer Petuna

News
1027

Sealord, who are in a joint venture with Tasmanian salmon farmer Petuna, saw its revenue increase 4.5 per cent.

In a press release on Thursday, Sealord Group CEO Steve Yung said: “The group enjoyed a stellar year on the back of strong pricing in both export and domestic markets, a favourable squid season and a record profit year for Petuna Aquaculture, our Tasmanian salmon joint venture.”

NZ fishing company Sealord, which is half owned by the Maori people of New Zealand, through Moana New Zealand (Aotearoa Fisheries) and half owned by global seafood company Nippon Suisan Kaisha – saw its revenue increase 4.5 per cent from the prior year to NZD 359.8 million (EUR 212.6 million).

“Following a poor 2018, Petuna’s 2019 result was particularly pleasing. Focus on operational excellence at the hatchery, sea farms and factory promoted strong fish growth, low fish mortalities and provided high-quality product for the sales team, it wrote.

Current Chief Executive Officer (CEO) of Sealord, Steve Yung, informed the Sealord Board of Directors earlier this year that he would step down at the end of 2020, to be replaced by Doug Paulin.