Tassal ‘extremely pleased’ with ’09 results

By

SeafoodSource staff

Published on
August 24, 2009

Australia’s largest farmed salmon producer released its fiscal 2009 results on Tuesday.

For the year ending 20 June, Tassal Group Ltd. posted revenue of AUD 357.8 million (USD 300.7 million, EUR 209.9 million), up 24 percent from fiscal 2008. The Tasmania-based company also recorded net profit after tax of AUD 30.1 million (USD 25.3 million, EUR 17.7 million), up 47 percent from fiscal 2008.

“It is extremely pleasing to deliver another solid profit outcome in such a difficult economic climate,” said Mark Ryan, CEO and managing director of Tassal.

“Salmon sales are proving resilient to the effects of the global financial crisis,” he added. “We continue to experience strong sales momentum in the domestic market with sales revenue growth of around 30 percent, despite the challenging economic environment.”

Tassal’s Atlantic salmon production has grown steadily since its inception in the mid-1980s and now totals 12,000 metric tons annually, representing 70 percent of Tasmania’s farmed salmon output.

The vertically integrated company employs more than 450 people.

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