NZ King Salmon farm. (Photo: NZKS)

NZ King Salmon keeps harvest forecast despite extremely warm summer effect

New Zealand King Salmon management board confirmed the foreseen harvest volumes for the fiscal year 2019, which are in line with the previously forecast level of about 8,000 tonnes.

The salmon farmer informed that, as it had predicted it in March on announcing its preliminary results, the summer has been particularly challenging for fish survival due to the extremely warm water temperatures.

Since then, temperatures have returned to normal levels, cooler after the autumn.

NZ King Salmon obtained a record profit in the first semester of the present financial year thanks to a combination of a strong global demand and a higher salmon volume available.

In March the firm informed it had obtained a 37-8 per cent growth in revenue for the July-December period in 2017, to NZD 87.6 million (USD 61 million).

In addition, the company announced an EBITDA growth of 50.1 per cent, to NZD 24.3 million (USD 16.9 million) and net profit after tax increase of 80.7 per cent, to NZD 15.7 million (USD 10.9 million).

On announcing those results, the firm also informed that it would offer further information on the effect of the summer temperatures on fish survival once the summer would end.

New Zealand King Salmon operates under its four key brands: Ōra King, Regal, Southern Ocean, and Omega Plus, as well as the New Zealand King Salmon label.

 
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Address:	31 Bullen Street
City:	Tahunanui
State/ZIP:	Nelson (NZ 7011)
Country:	New Zealand
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