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Clean Seas Hiramasa kingfish farm in Eyre Peninsula. (Photo: Clean Seas YouTube)

Clean Seas Seafood expects to double profits in second semester

  (AUSTRALIA, 6/9/2017)

Kingfish producer Clean Seas Seafood Limited expects the firm’s net profit to double in the second half of 2017 fiscal year, led by the strong fish growth.

The company expects its net profit after tax guidance to be between AUD 3.5 million (USD 2.6 million) and AUD 4.5 million (USD 3.3 million) for the six-month period ended on July 31, which is far greater than the AUD 1.8 million (USD 1.3 million) from the prior corresponding period.

The company’s managers also expect sales will rise in the 2017 fiscal year, to up to 2,300 tonnes, compared to 2,018 tonnes recorded in the previous fiscal year.

Clean Seas’s board explained fish health and survival has remained at excellent levels, while its sales have continued to grow in Australia, Europe and the United States.

“Pleasing sales growth in Australia, Europe and USA in FY17 will facilitate an approximate 250 tonnes increase in annual sales,” the company’s managers said.

This was despite a “significant” decline in sales to Asia, which it largely attributed to a failed distribution agreement with fellow SA-based ASX listed company Beston Food.

The company is planning to launch a marketing campaign soon and expects to start production trials at its Royal Park processing facility in the coming weeks.

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Information of the company:
Address: PO Box 159
City: Port Lincoln
State/ZIP: (5606)
Country: Australia
Phone: +61 8 8621 2900
Fax: +61 8 8621 2990
E-Mail: [email protected]
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