New Zealand King Salmon declares 2.0 interim dividend
A successful branding and market positioning strategy underpins growth for New Zealand King Salmon Investments Ltd (NZKS), which today reported its half year result for the six months to 31 December 2016 (1H17). The Board affirms its full year FY17 forecast as presented in its Product Disclosure Statement dated 23 September 2016. Key highlights include: Net profit after tax of $8.7 million, up 52% on the comparable six month period to 31 December 2015 (1H16) Pro forma operating EBITDA of $7.3 million 3,400 metric tonnes of gilled and gutted salmon sold, up 13% on 1H16 Volumes exported up 19% on 1H16 Successful IPO on the NZX Main Board and ASX raising $30 million to fund capital and working capital investment associated with our new sea farms and requisite processing infrastructure Premium branded strategy continues to drive demand in excess of available supply, underpinning improved value Salmon farming now underway at all three new sea farms First harvest from two of our three new sea farms Sales programme to China implemented in partnership with shareholder China Resources Ng Fung Ltd Successful launch of pet food range Omega Plus in South Island test market in September “The first four months since listing have given us a good platform for future growth” said Chairman John Ryder. “We are positive about the future of the company and its global potential, and we are on track with our investment in new farm capacity and operational upgrades to support our strategy,” he added. The company continues to execute on its premium branded export plans, said Managing Director and CEO Grant Rosewarne. “Strong growth in export volumes, up 19%, confirms market receptiveness to this strategy, while the company is developing additional pathways to unlock further export sales […]