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Profit for the Aotearoa Fisheries Group

Profit for the Aotearoa Fisheries Group

Aotearoa Fisheries Limited, one of New Zealand’s largest fishing companies, has reported a consolidated profit of $21.9 million for the year ended 30 September 2014.

Chairman, Whaimutu Dewes says that Aotearoa Fisheries has performed well this year, across all divisions and as a group, and has achieved the targets we set ourselves for people’s safety, their development, completion of projects and profit against plan.

Against steady headwinds the Group’s consolidated profit of $21.9 million was slightly ahead of plan. That also reflects the return to profit of Sealord Group Limited, which contributed $12.7m this year after recording a loss of $6.0 million last year.

With the return to profit, the Aotearoa Fisheries Board of Directors have declared a dividend of $8.8 million for the year ended 30 September 2014.

CEO Carl Carrington says “Aotearoa Fisheries own divisions were ahead of target which is pleasing under difficult operating conditions like the exchange rate and soft demand for pāua in Asia. This year our business will ramp up efforts in becoming a leader in sustainability which is wholly in line with our tikanga. There is no question that our long term future hinges on how well we perform in this area.”

Aotearoa Fisheries, owned by all Māori people, through Iwi shareholders and manages commercial seafood assets of over $530 million including the AFL Inshore fishing businesses Moana Pacific and OPC Fish and Lobster, paua and ready-to-eat meals exporter Prepared Foods, leading oyster producers Kia Ora Seafoods and Pacific Marine Farms and 50 per cent of Sealord Group Limited.

ENDS

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