By Phil Boeyen, ShareChat Business News Editor
Wednesday 6th December 2000
|Text too small?|
The fishing company told shareholders at its AGM today that there has been a slow start to the year as it seeks to maximise prices in a competitive market, but activity is expected to again be strong in the second half of the year.
The company is expecting another satisfactory result for the year but points out that currency, fuel and political instability are factors that can affect the final outcome.
While Sanford quit its investment in Namibia during the year, it has continued to look to Canada for growth, increasing its stake in Newfoundland-based Fishery Products International from 5% last year to just under 15% at an average cost of C$8.80 a share.
Sanford says it has made progress working with Fishery Products International on the trading of products and it expects the first shipments in both directions to commence early in the New Year.
Earlier today Sanford announced plans for a $12 million waterfront fish market and tourism attraction in Auckland.
No comments yet
Sanford names Volker Kuntzsch as CEO, replacing Barratt
Sanford faces three charges relating to illegal dumping of oil at sea
Sanford annual profit to miss forecast on lower skipjack tuna, toothfish and mussel harvest
Sanford annual profit falls 6.7% on mussel farm restructuring
Former Sanford engineer faces up to 26 years jail for obstruction
Sanford's Barratt 'disappointed' at US guilty verdict
US withdraws US24M 'proceeds of crime' claim against Sanford
US Justice Dept set to release Sanford fishing vessel in Pago Pago
Sanford full-year profit falls 11% as kiwi dollar's strength erodes returns in second half
Sanford annual profit falls as much as 12% on strong kiwi, lower tuna catch