Argentinian losses push Sealord into the red, North Island Mussels stake for sale

Thu, 30 Jan 2014

By Paul McBeth Jan. 30 (BusinessDesk) - Sealord, New Zealand’s second-largest fishing company, sank into the red after crystallising a $46.9 million loss on the sale of its Argentinian unit last year and has since put its stake in North Island Mussels up for sale. The Nelson-based company made a net loss of $44.3 million in the 12 months ended Sept. 30, compared to a profit of $3.5 million a year earlier, according to holding company Kura’s financial statements, lodged with the Companies Office. Sealord wrote off $37.1 million from the sale,...

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