Sanford profit hammered, sees break in waves in 2023

There is a lag in the recovery of Sanford's mussels division. (Image: supplied)

Thu, 18 Nov 2021

Seafood company Sanford said covid-19 continues to hammer its profitability but it hopes to return to pre-covid levels in the 2023 financial year.Net profit for the 12 months to September 30 was $16.2 million, down 16% on the prior year while revenue lifted 4% to $489.6m.This is Sanford’s second year of weak financial performance due to covid-19, chair Robert McLeod said.“This has hit the foodservice sector where the majority of the world’s seafood is consumed. The most significant impact this year has been to our mussels divi...

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