Sanford half-year profit growth stalls despite forex hedging gains

Wed, 30 May 2012

By Hannah Lynch May 30 (BusinessDesk) - Sanford, the fishing company, saw half-year profit stall as increased sales of greenshell mussels were offset by declines in hoki, squid, salmon and skipjack tuna prices, and the company took a $2 million impairment on its Australian operations. On an earnings before interest, tax, depreciation and amortization basis, the Auckland-based firm saw returns rise by almost $4 million to $29.89 million in the six months to March 31, compared to the same period a year earlier. However, tax-paid profit was rou...

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