Moana NZ annual profit fell 56% on poor Sealord result

Moana NZ's direct operations fared better than its Sealord stake. (Image: Moana NZ)

Mon, 19 Dec 2022

Moana New Zealand, which owns 50% of Sealord, said net profit for the year ended September fell 56% to $12 million with inflation, supply chain pressures and labour shortages creating “a perfect storm”. The Māori-owned fishing company said its directly managed business delivered a result that was 25% above plan, but the Sealord result was down 64% on plan.The company will pay a $4.8m dividend to iwi, down from $10.8m the previous year.“Moana NZ navigated through these headwinds on the back of continued strong demand for o...

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