Sharechat Logo

New Zealand King Salmon Investments Limited (NZX: NZK) Market Update

Thursday 3rd June 2021

Text too small?

The Board of New Zealand King Salmon advise that trading in the first half of FY22 (Feb to July 21) has been problematic. King Salmon is a difficult species to farm and there were issues with our fish in the warmer Pelorus Sound over the summer months that hindered growth in that region, after changes were made to our farming model. The smaller fish size and reduced biomass has progressively become more apparent with the completion of post summer weight assessments.

We believe this is temporary. Steps have been made to rectify the issue and we believe that fish sizes will be recovering by July and biomass should improve to a satisfactory position in October. The balance sheet remains strong.

The company has profitably closed out foreign exchange hedges that were surplus to requirements. Price increases have been notified to the market, with benefit to be seen in the second half.

In light of current trading conditions, we expect to provide more detailed guidance with the announcement of our half year results for the six months ending 31 July 2021.

Please see the link below for details

NZK Market Update

Source: New Zealand King Salmon Investments Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto