19 December 2019
Sealord Group Ltd has reported a net profit after tax of NZD $32.2 million for its financial year ended September 30,
2019. The result is 32.6% higher than their 2018 result. Revenue increased 4.5% from the prior year to $359.8 million.
Sealord Group CEO Steve Yung said, “The group enjoyed a stellar year on the back of strong pricing in both export and
domestic markets, a favourable squid season and a record profit year for Petuna Aquaculture, our Tasmanian salmon joint
venture.”
Following a poor 2018, Petuna’s 2019 result was particularly pleasing. Focus on operational excellence at the hatchery,
sea farms and factory promoted strong fish growth, low fish mortalities and provided high-quality product for the sales
team.
Sealord’s new vessel Tokatu proved her worth catching New Zealand deep-sea species. Fishing results showed continuous
improvement as the crew became more familiar with the vessel and catching and processing each species as the year
progressed.
Nga Tapuwae o Maui, the arrangement announced in March 2019 between Sealord and Iwi (allowing Sealord access to Annual Catch Entitlement
(ACE) on a long-term basis, with greater returns to Iwi), enables Sealord to work with a more consistent catch plan.
“Nga Tapuwae o Maui is founded on tikanga Māori, where Māori work collectively together for the benefit of all,” says
Sealord Chairman Whaimutu Dewes. “Taku toa he toa takitini; ehara i te toa takitahi. Our achievements are brought by the
effort of many.”
Ends