- New Zealand King Salmon’s FY20 harvest expected to be up from FY19. Producing roughly 8,000 million tonnes
- Capital expenditure will grow as new infrastructures are implemented and environmental protections are taken
- The company’s share price has slightly decreased by 1.24 per cent today, currently sitting at $1.98 per share.
New Zealand King Salmon’s harvest is expected to increase during the 2020 financial year. Roughly producing 8,000 million tonnes.
The company’s estimated earnings before interest, tax, depreciation and amortisation is between $25 million and $28.5 million.
Capital expenditure is expected to be around $17 million in 2019. This will rise to $20 million during 2020, based on current forecasts.
The company attribute growing capital expenditure to the cost of infrastructure growth and environmental protection. The Waitata and Ngamahau sites will receive new pens and barges to increase feeding limits.
An initiative to improve fish survival and performance is set to be implemented, as mortality rates are expected to rise.
According to the company due to limited fish availability, sales will be slightly weighted to the second six month period.
New Zealand King Salmon is the worlds largest aqua-farmers of King Salmon, producing over 50 per cent of the worlds King Salmon supply.
The company has been in operation for 30 years under four additional brands: Ōra King, Regal, Southern Ocean and Omega Plus. Operating from eight sea farms, located at Marlborough Sounds on NZ’s south island.
The high levels of Omega-3 present in the largest Pacific Salmon are beneficial for heart and joint health.
The company’s share price has slightly decreased by 1.24 per cent today, currently sitting at $1.98 per share.