NZ King Salmon posts a 7-month net loss

Wed, 31 Mar 2021

New Zealand King Salmon said it made a $7.1 million net loss in the seven months ended Jan 31 because it was carrying excess inventory due to the covid-19 pandemic.The loss compared with the $18m net profit the company reported for the year ended June. The salmon farmer is changing its balance date to Jan 31 to align its financial reporting with the seasonality of its activities.Comparing the latest seven-month result to the same year-earlier seven months on a pro forma basis, net profit fell 77% to $2.3m."Going forward, our average p...

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