Sealord, New Zealand's second-largest fishing company, sank into the red after crystallising a $46.9 million (USD 41.2 million, EUR 30.4 million) loss on the sale of its Argentinian unit last year and has since put its stake in North Island Mussels up for sale.
The Nelson-based company made a net loss of AUD 44.3 million (USD 38.9 million, EUR 28.7 million) in the 12 months ended 30 September 2013, compared to a profit of AUD 3.5 million (USD 3.1 million, EUR 2.3 million) a year earlier, according to holding company Kura's financial statements, lodged with the Companies Office.
Sealord wrote off AUD 37.1 million (USD 32.6 million, EUR 24 million) from the sale, and incurred a further AUD 9.9 million (USD 8.7 million, EUR 6.4 million) in operating losses.
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