Sanford's 1H net profit lifts, surprise sale of inshore business

Sanford has posted a lift in earnings (Image: Sanford)

Mon, 22 May 2023

Seafood company Sanford is hoping carve off most of the inshore area of its wildcatch division to Moana New Zealand through a long-term agreement.“While the deepwater part of the business is stable and profitable, unfortunately the inshore area of Sanford’s wildcatch division has been underperforming for some time,” chief executive Peter Reidie said.“Following a review into this division, we have now agreed to sell much of our North Island inshore Annual Catch Entitlement (ACE) to Moana New Zealand through a new long-ter...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Property

Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

The Quiz Free

QuiznessDesk: Thursday, Oct 31

One Night in Bangkok was a hit song from what musical?By inserting an extra letter, what word meaning a small group of trees can be changed to one meaning a dead body?State Highway 2 between Gisborne and Opotiki passes through what gorge?What was the nickname of a 1940s Hollywood...

The Quizmaster 9:15am