Sanford FY earnings flat on reduced volumes

By Gavin Evans | Thu, 14 Nov 2019


Fishing company Sanford reported a 1 percent decline in full-year net profit with improved pricing on some species not enough to offset a 4 percent drop in volumes.Net profit fell to $41.7 million in the year ended Sept. 30 from $42.3 million the year before. Revenue was 6 percent higher at $545.1 million, and 8 percent higher at $558 million on a like-for-like basis to remove the impact of recent accounting changes.Earnings before interest and tax, after excluding one-off impairments, restructuring costs and previous insurance settlements, wer...