King Salmon earnings at bottom of guidance range as more fish die

Tue, 30 Apr 2019

By Paul McBeth May 1 (BusinessDesk) - New Zealand King Salmon expects annual earnings will come in at the bottom end of its previous forecast range as persistently warmer water increases the mortality rates at its fish farms. The company expects to harvest 7,900 tonnes of fish in the year ending June 30, down from a previous forecast of 8,000 tonnes, but up from the 7,779 tonnes it reported a year earlier. Because of the smaller harvest, King Salmon expects earnings before interest, tax, depreciation and amortisation will be at the lower...

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