Back on track: King Salmon looks ahead

King Salmon is progressively moving out of the Marlborough Sounds. (Image: NZME)

Thu, 28 Mar 2024

New Zealand King Salmon is planning to sharply increase capital expenditure in the year ahead as it commits some $23.6 million to upgrade existing infrastructure at the same time as starting work on NZ’s first open-ocean fishfarm.The Blenheim-based aquaculture operation reported a return to more acceptable levels of profitability after three years of negative earnings due to high fish death rates caused by warming waters in the Marlborough Sounds.Net profit after tax of $28.5m for the year to Jan 31 compared with just $1.9m statutory...

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