Tasmanian salmon company Tassal has warned a global salmon glut that has hurt its profits is unlikely to improve in the next two years.
Tassal has confirmed its profit for the year to June was AUD 28 million, down seven per cent on the previous financial year.
Tassal Chief Executive Mark Ryan says an over supply of salmon from Chile and Norway pushed its export sales down by 21 percent, a drop of nearly AUD 7 million.
He says he does not expect the volatile export prices will improve in the next 24 months.
The company is now focused on further increasing its Australian sales.
