Sealord returns to profitability
SEAFOODNEWS.COM [Stuff.co.nz] By Hamish McNicol - December 22, 2014 -
Maori co-owned fishing firm Sealord has turned around its first loss in 20 years to hook a $20.6 million profit, less than a month after cutting 111 jobs.
The Nelson- and Auckland-based company's profit was a marked improvement on last year's $36.5 loss, which was the result of a failed fishing venture in Argentina.
This year, Sealord's cost of sales decreased from $382m to $338m, while revenue dipped slightly to $448m.
As a result, profit for the year ended September 30 was up by 156 per cent, companies office documents said today.
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