NEW ZEALAND: Sanford sees H1 profit drop, acquires stake in Canadian firm
New Zealand commercial fishing and aquaculture giant, Sanford, today [Wednesday] reported a 1.9% drop in H1 profit to NZ$11.8m (US$5.2m) from NZ$12.1m, although the company stressed that there was an underlying improvement in profitability. Operating profit rose 2.3% to NZ$39.3m. Sales of farmed seafood, such as salmon, were lower because of a glut on the international market, however total sales rose 7.6% to NZ$183.7m and operating revenue was up more than 10% to NZ$183.1m, which Sanford attributed to increased sales of skipjack tuna and orange roughy.
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