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
No comments yet
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer
Tourism Holdings Limited (NZX: THL) Sells Mighway and SHAREaCAMPER to Camplify
26th October 2021 Morning Report
Harmoney Corp Limited (NZX: HMY) Prices $105m Inaugural ABS Transaction
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio