NZK 1H19 Updated Interim Financial Statements

93 Beatty Street, Tahunanui, Nelson 7011, New Zealand
0800 725 666

contact@kingsalmon.co.nz

www.kingsalmon.co.nz



13 March 2019

Re-release of 31 December 2018 Interim Financial Statements due to
correction of note disclosure.
New Zealand King Salmon Investments Limited (NZX and ASX:NZK) advises it has re-released its 31
December 2018 Interim Financial Statements to correct a classification error in Note 4, Segment
Information on page 9.

The effect of the correction is to reclassify revenue from contracts with customers and EBITDA, from
New Zealand Retail to Export Market.

The Board wishes to emphasis that this correction has no impact on the underlying trading results or
cash position of New Zealand King Salmon Investments Limited. This change does not affect the
Interim Consolidated Statement of Comprehensive Income, Interim Consolidated Statement of
Financial Position, Interim Consolidated Statement of Changes in Equity, or Interim Consolidated
Statement of Cash Flows.

Ends

Issued by:
Andrew Clark, Chief Financial Officer
+64 21 471-953 or andrew.clark@kingsalmon.co.nz



About NZKS:
New Zealand King Salmon is the world’s largest aquaculture producer of the premium King salmon
species. We operate under our four key brands: Ōra King, Regal, Southern Ocean, and Omega Plus,
as well as the New Zealand King Salmon label. We have been growing and selling salmon to consumers
for more than 30 years. Today we employ around 500 people. New Zealand investors make up a
significant percentage of the ownership of NZ King Salmon and the communities of Marlborough,
Nelson Bays and Tasman are well represented with nearly 400 of the 2,800 shareholders from the Top
of the South. More information can be found at www.kingsalmon.co.nz

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A member firm of Ernst & Young Global Limited



Review Report to the Shareholders of New Zealand King Salmon Investments Limited (“the
company”) and its subsidiaries (together “the group”)
We have reviewed the interim financial statements on pages 2 to 14, which comprise the statement of financial
position of the group as at 31 December 2018, and the statement of comprehensive income, statement of changes
in equity and statement of cash flows of the group for the six-month period ended on that date, and a summary of
significant accounting policies and other explanatory information.
This report is made solely to the company's shareholders, as a body. Our review has been undertaken so that we
might state to the company's shareholders those matters we are required to state to them in a review report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the company and the company's shareholders as a body, for our review work, for this report, or for our
findings.
Directors’ Responsibilities
The directors are responsible for the preparation and fair presentation of interim financial statements which comply
with New Zealand Equivalent to International Accounting Standard 34: Interim Financial Reporting and for such
internal control as the directors determine is necessary to enable the preparation and fair presentation of the
interim financial statements that are free from material misstatement, whether due to fraud or error.
Reviewer’s Responsibilities
Our responsibility is to express a conclusion on the interim financial statements based on our review. We conducted
our review in accordance with NZ SRE 2410 Review of Financial Statements Performed by the Independent Auditor
of the Entity. NZ SRE 2410 requires us to conclude whether anything has come to our attention that causes us to
believe that the financial statements, taken as a whole, are not prepared in all material respects, in accordance with
New Zealand Equivalent to International Accounting Standard 34: Interim Financial Reporting. As the auditor of the
group, NZ SRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual
financial statements.
Basis of Statement
A review of interim financial statements in accordance with NZ SRE 2410 is a limited assurance engagement. The
auditor performs procedures, primarily consisting of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review procedures.
The procedures performed in a review are substantially less than those performed in an audit conducted in
accordance with International Standards on Auditing (New Zealand). Accordingly we do not express an audit
opinion on those financial statements.
We provide taxation advice to the group. We have no other relationship with, or interest in, the group.
Conclusion
Based on our review nothing has come to our attention that causes us to believe that the accompanying interim
financial statements, set out on pages 2 to 14, do not present fairly, in all material respects, the financial position
of the group as at 31 December 2018 and its financial performance and cash flows for the six-month period ended
on that date in accordance with New Zealand Equivalent to International Accounting Standard 34: Interim Financial
Reporting.
Our review was completed on 13 March 2019 and our findings are expressed as at that date.




Chartered Accountants
Christchurch