31 May 2012

Sanford reports slight profit increase due to better sales

6:01 am on 31 May 2012

Sanford has reported a slight increase in its profit due to better sales.

The fishing company made a profit of $13.3 million in the six months to the end of March, an increase of 1.5% compared with the same period a year earlier.

Revenue rose 1% to 230 million, with stronger sales of Greenshell mussels and scampi offset by declining volumes of hoki, squid, salmon and skipjack tuna.

Sanford expects an improved second half of the year, particularly if the New Zealand dollar remains below 80 US cents.

It declared an unchanged interim dividend of 9 cents per share.