Sanford reports highest revenue in five years

Sanford Limited has reported its financial results for the 2023 fiscal year, showing its highest revenue in five years at $553.4 million.

The company's adjusted earnings also improved, reaching $49.4 million, as it continues to recover from the impact of the COVID-19 pandemic.

The company's commercial progress includes strong performance in its Salmon business, slower recovery in its Mussel business due to labor issues, and transformation in its Wildcatch business.

Despite lower volumes, Sanford's revenue increase was driven by strong pricing and customer demand.

The company's net debt increased to $196 million, but its gearing remains within the Board's parameters.

Sanford expects a stronger year in 2024 and remains committed to its strategy of rebuilding profitability and delivering value to shareholders.