Sanford posts 8% gain in full-year profit on year-earlier vessel impairment; sales rise 3.1%

Wed, 15 Nov 2017

By Jonathan Underhill Nov. 15 (BusinessDesk) - Sanford, New Zealand's largest listed seafood company, reported an 8 percent gain in full-year profit although the increase reflected a year-earlier impairment tied to a discontinued business and underlying earnings were relatively flat. Profit was $37.5 million in the year ended Sept. 30, from $34.7 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.1 percent to $477.9 million, which Sanford attributed to improved prices from its king salmon farming business...

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