NZK Market Update
93 Beatty Street, Tahunanui, Nelson 7011, New Zealand
0800 725 666
contact@kingsalmon.co.nz
www.kingsalmon.co.nz
3 June 2021
Market update
The Board of New Zealand King Salmon advise that trading in the first half of FY22 (Feb to July 21)
has been problematic. King Salmon is a difficult species to farm and there were issues with our fish in
the warmer Pelorus Sound over the summer months that hindered growth in that region, after
changes were made to our farming model. The smaller fish size and reduced biomass has
progressively become more apparent with the completion of post summer weight assessments
We believe this is temporary. Steps have been made to rectify the issue and we believe that fish sizes
will be recovering by July and biomass should improve to a satisfactory position in October. The
balance sheet remains strong.
The company has profitably closed out foreign exchange hedges that were surplus to requirements.
Price increases have been notified to the market, with benefit to be seen in the second half.
In light of current trading conditions, we expect to provide more detailed guidance with the
announcement of our half year results for the six months ending 31 July 2021.
Ends
Issued by:
Grant Rosewarne, Managing Director & CEO, New Zealand King Salmon Investments Limited
Email: grant.rosewarne@kingsalmon.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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