ShapeShapeauthorShapecrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape

Tassal's Profits Down

by Ellen Hardy
27 February 2008, at 12:00am

AUSTRALIA - Tasmanian salmon faming operation Tassal Group Ltd has posted a half year profit down 35.1 per cent on a 13.3 per cent increased revenue.

Tassal, Australia's largest aquaculture company, said its second half would benefit from the earnings from its Superior Gold purchase, organic growth in the domestic market and an improved cost base from restructuring.

The company showed a post tax profit of A$8.45 million in the six months to 31 December, down from A$13.03 million in the corresponding prior period.

Tassal said the result was affected by a marketing spend that was $1.6 million more than the corresponding half.

In the report the directors said: "The Directors of Tassal Group Limited are extremely pleased to present Tassal Group Limited’s Half Year Report to 31 December 2007.

"H1 2008 represented a period of restructuring and rebalancing Tassal’s underlying marine and processing operating infrastructure, while at the same time pursuing financial and operational growth opportunities from a revenue and margin perspective.

Ellen Hardy