New Zealand seafood giant Sanford reported a modest increase in earnings for the 2018 financial year, with results falling short of expectations due to challenging climatic conditions throughout the year.
Adjusted earnings before interest and tax (adjusted EBIT) increased 1.5 percent to NZD 64.7 million (€38.9 million/$44.1 million).
Sales revenue increased by 7.7 percent to NZD 515.0 million (€309.5 million/$350.8 million). This increase was driven by improved pricing across farmed and wild caught species, an increase in fresh sales, an improved product cascade, primarily for hoki, and the company’s investment in innovation starting to contribute to returns.
