Market – September 28, 2022
Mortality and reduced harvesting volumes hit New Zealand King Salmon
Grant Rosewarne CEO of New Zealand King Salmon. PHOTO: Aslak Berge
First six months of 2022 in the red.
Fish deaths caused by warmer water drove NZ King Salmon to a $24.5 million loss in the first half to July 31, the company says.
The company said revenues were consistent with the prior comparable period at $80m, as a combination of price increases and customer mix offset reduced sales volumes throughout the half.
Sales volumes fell 21 per cent to 2,886 tonnes, reflecting a reduced harvest, according to NZ Herald.
NZ King Salmon reaffirmed its full year earnings guidance – given in April 2022 – of an $8m to $12m pro forma EBITDA loss.
