Primary Sector

Sanford's revenues lift but domestic challenges remain

Rebecca Howard
Thu, 19 May 2022

Sanford's revenues lift but domestic challenges remain
Mussel harvesting in the Marlborough Sounds. (Image: supplied)
Rebecca Howard
Thu, 19 May 2022
Seafood company Sanford reported strong first-half revenue and underlying earnings as it benefits from an international post-covid recovery but warns the domestic picture remains challenging.Total revenue was $270.9 million in the six months to March 31, up 16% on the same period a year earlier. Adjusted earnings before interest and tax (ebit) were $19.2m versus $10.7m on the year.Net profit, however, was $6.1m versus $13.8m in the prior period, which was bolstered a one-off gain of $13.4m from the sale of non-core property.Chief executive Pete...

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