An ad campaign showcasing Clean Seas Yellowtail Kingfish. (Pic: Clean Seas/stockhead)
Kingfish farmer Clean Seas back in favour with investors after ‘horrific’ year
(AUSTRALIA, 10/16/2017)
Farmed in the Antarctic waters of South Australia’s Spencer Gulf, Clean Seas Hiramasa Kingfish is a delicacy served up by top chefs from Neil Perry to Gordon Ramsay.
Australia’s only commercial farmer of the “king of kingfish”, Clean Seas (ASX:CSS), sold more than 650 tonnes of the sashimi fish last quarter at premium prices that have outstripped salmon.
In the past year prices have increased by $2.31 a kilo to $13.58 — while with Australian consumers forking out upwards of $17.50 per kilo.
The delicacy’s popularity — it’s known locally as Yellowtail but marketed as Hiramasa — has resonated with investors.
Since announcing a return to profits six months ago — following a turbulent period when production fell by 90 per cent — Clean Seas shares have been on an upward trend.
The shares reached 7.6c on Thursday, close to a 12-month high.
The fish farmer is now cash flow positive after recovering from what chief executive David Head described as a “horrific” period in 2016.
2015-2016 period with strong fall and rapid recovery in the last 6 months of 2017
Source: Written by Melissa Yeo/stockhead.com.au | Read full article here
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PO Box 159
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Port Lincoln
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Australia
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