Clean Seas Tuna turns first profit in seven years focusing on kingfish
SEAFOODNEWS.COM [The Advertiser] By Nigel Austin - August 15, 2014 -
Port Lincoln, Australia fish farmer Clean Seas Tuna has turned in an $11.145 million profit, the first for seven years as its hiramasa kingfish farming expansion starts to reap rewards.
The result was achieved on total revenue of $14.398 million and compared to a loss of $34.457 million year-ago.
CEO Foster said, “This earlier than anticipated return to operational profits has arisen from a significantly improved biological performance and by maintaining a premium market price and ensuring our costs are well controlled and focused on kingfish outputs.” Dr Foster said he believes the company can achieve its forecast sales of close to 1,500 tonnes in 2015, increasing revenue to about $20 million for the financial year.
Clean Seas also said it was preparing a comprehensive review of its southern bluefin tuna breeding strategy to determine the future for the program.
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