Sanford full-year pretax earnings slip 5 percent as mussels, tuna, mackerel weigh on second half

Wed, 20 Nov 2013

Nov. 20 (BusinessDesk) – Sanford, New Zealand’s largest listed seafood company, posted a 5 percent decline in full-year pretax earnings as production of mussels and lower catches of tuna and jack mackerel weighed on the second half performance. Earnings before interest, tax, depreciation and amortisation fell to $47.4 million in the 12 months ended Sept. 30, from $50.1 million a year earlier, the Auckland-based company said in a statement. Revenue climbed 0.6 percent to $462.6 million. Net profit rose 3.8 percent to $20.4 million as it flagg...

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