The group said it posted a post-tax loss of AU$14.2 million (€9.8 million/$13 million) in the first six months of the financial 2010 year.
This was due to “write downs of excess inventory as a consequence of an overly optimistic production schedule," it said.
It added that the company expects its yellowtail kingfish division to become cash flow positive in 2011, "and then moving to profitability in the near term."
"Whilst this progress is slower than originally anticipated, the company is now operating with a focused and higher level of rigor and discipline which will result in steady progress in this division," Clean Seas Tuna said.
This
