NZ King Salmon beats FY earnings forecast; shares jump to a record

Thu, 24 Aug 2017

By Tina Morrison Aug. 25 (BusinessDesk) - New Zealand King Salmon Investments, the world's largest aquaculture producer of king salmon, beat its forecast for annual earnings as demand for its premium product exceeded supply, underpinning values. The stock jumped to a record. Net profit soared to $22.8 million, or 16 cents per share, in the year ended June 30, from $2.6 million, or 2 cents, a year earlier, which is up 125 percent on its prospectus forecast ahead of listing last October, the Nelson-based company said in a statement. Pro...

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