Sanford profit surges 224% as debt falls and aquaculture lifts earnings

Sanford profit surges 224% as debt falls and aquaculture lifts earnings
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Staff reporters
Better cash flow and lower debt helped drive seafood company Sanford’s net profit up by 223.8% to $63.7 million in the September year.Revenue was steady at $584.1m, and Sanford’s earnings before interest and tax came to $102.1m, up 88%.Managing director David Mair said it was an “excellent” result.Revenue reached $584.1m, adjusted earnings before interest and tax (adjusted ebit) was $105.2m while ebit was $102.1m.Operating cash flow of $135.3m and disciplined capital investment of $23.3m not only maintained assets but en...