New Zealand fishing firm Sealord turned around its first loss in 20 years to net a NZD 20.6 million (€13 million/$16 million) profit in the year ending Sept. 30.
This was up by 156 percent compared with the NZD 36.5 million (€23.1 million/$28.3 million) losses the company reported last year.
The results come less than a month after cutting 111 jobs, reported stuff.co.nz.
The Nelson- and Auckland-based company's profit was a marked improvement on last year's NZD 36.5 million (€23.1 million/$28.3 million) loss, which was the result of a failed fishing venture in Argentina.
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