Seafood company, Sanford, has reported a significant increase in its half-year profit.
The company achieved a net profit after tax of $34 million for the six months ended March 31, 2025, a 110% increase compared to the same period last year.
This result is also the highest half-year adjusted earnings result in recent times.
Revenue for the period reached $286m, up 3.6% from the previous year.
Adjusted ebit increased by 40.3% to $54m, while operating cash flow surged by 497.6% to $49.6m.
Sanford's net debt decreased by 25.1% to $165.1m.
The company declared an interim dividend of 5 cents per share.
Sanford's managing director, David Mair, attributed the improved performance to strong results from the salmon business and an improving mussel result.
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