NZ King Salmon sees weaker second half on hot summer; 1st-half profit soars 81%

Wed, 28 Feb 2018

By Jonathan Underhill March 1 (BusinessDesk) - New Zealand King Salmon says the "extraordinarily hot summer" has cut survival rates at its fish farms in the Marlborough Sounds and it expects weaker second-half earnings after profit in the first half soared 81 percent. Profit rose to $15.7 million in the six months ended Dec. 31 from $8.7 million a year earlier, the company said in a statement. Sales climbed to $87.7 million from $63.6 million. Chair John Ryder said King Salmon remains "positive about the longer-term prospects for our...

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