Sanford's H1 Profit Drops 18 Percent from Fleet and Mussel Plant Write-Downs
SEAFOODNEWS.COM [3News] - May 26, 2015 -
Sanford, New Zealand's largest listed fishing group, has reported an 18 percent drop in first-half profit as it wrote down the value of its fleet and Christchurch mussel processing plant.
Profit fell to $9.6 million in the six months ended March 31, from $11.7m a year earlier, the Auckland-based fishing company said in a statement.
Sales increased 0.1 percent to $226m, while earnings before interest, tax, depreciation and amortisation rose 18 percent to $33.9m.
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