Struggling barramundi aquaculture company Barramundi Group posted lower overall revenue and slightly lower losses due to the sale of its Australian assets, as it continues to work on restructuring and returning to profitability.
Barramundi Group has been on the Oslo Børs penalty bench since 2024 after it failed to file its FY 2023 results in a timely manner. The company announced a restructuring plan in September 2024 and was finally given a go-ahead for the plan by a Singapore court in July 2025 – a greenlight which also came with the extension of a moratorium order on any receivership or legal proceedings against the company while it works on its new plan.
Barramundi Group released its FY 2024 results on 28 November 2025 – meaning the FY 2024 results were released even later than its FY 2023 results and almost a full year after it released its H1 2024 operational update. Soon after its results were posted, the company’s share price dropped from EUR 0.05 (USD 0.06) to EUR 0.038 (USD 0.044), marking a decrease of 24 percent.
According to those results, Barramundi Group’s net losses for the financial year were lower in FY 2023 than they were in FY 2024, dropping from SGD 13 million (USD 10 million, EUR 8.6 million) in losses in FY 2023 to SGD 8.6 million (USD 6.6 million, EUR 5.7 million) in losses in FY 2024. The company’s revenue in FY 2024 dropped to SGD 13.9 million (USD 10.7 million, EUR 9.2 million), down from SGD 16.6 million (USD 12.8 million, EUR 11 million) in FY 2023.
The company’s total comprehensive loss for the financial year also dropped, standing at SGD 8.6 million (USD 6.6 million, EUR 5.7 million) in FY 2024 compared to the SGD 11.7 million (USD 9 million, EUR 7.7 million) it lost in FY 2023. However, those reductions were largely thanks to discontinuation of operations which, in 2023, lost the company SGD 8.5 million (USD 6.5 million, EUR 5.6 million).
A portion of Barramundi Group’s income in FY 2023 was under the “other income” category, totaling SGD 5.3 million (USD 4.1 million, EUR 3.5 million). According to the company, SGD 4.6 million (USD 3.5 million, EUR 3.1 million) of this income was from money it received under Singapore Food Story grants, which only totaled SGD 1.7 million (USD 1.3 million, EUR 1.1 million) in FY 2024.
The company has been focused on pivoting to its Brunei-based operations after selling its Australian operations to Tassal in August 2023.
