Fishing company Sanford says its annual net profit is likely to be substantially lower than the about NZD 28 million (USD 22.4 million, EUR 16.9 million) it foreshadowed in May.
That's because catches in two important fisheries are down and Greenshell mussel production is lower than planned.
Sanford says its net profit for the 12 months ending September is now likely to be between NZD 23 million (USD 18.4 million, EUR 13.8 million) and NZD 25 million (USD 20 million, EUR 15 million).
