Sealord profit falls 62% in 2015 as low global fish prices weigh on earnings

Tue, 26 Jan 2016

By Sophie Boot Jan. 26 (BusinessDesk) - Sealord's annual profit more than halved as sales slumped with low global prices weighing on New Zealand's second largest fishing company. Net profit fell to $10.1 million in the year ended Sept. 30, from $26.9 million a year earlier, according to financial statements for holding company Kura, lodged with the Companies Office. Nelson-based Sealord's 2014 profit was restated from $25.3 million over sales cutoff errors. Annual sales fell 4.3 percent to $431 million. Weighing on the bottom line was...

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