Tassal reaps benefits of strong demand for Salmon

Posted by James Ferre on 25th August 2009

Tassal has reported a 47 per cent rise in profit as demand for Salmon in Australia continues to build.

The ASX-listed Atlantic Salmon marketer saw volume growth of 31.66% in the domestic market, while profits were further boosted by cost reduction initiatives.

Salmon Fillets

“It is extremely pleasing to deliver another solid profit outcome in such a difficult economic climate,” Tassal Group’s Managing Director and Chief Executive Officer, Mark Ryan, said. “We continue to experience strong sales momentum in the domestic market with sales revenue growth of around 30% despite the challenging economic environment.”

“Salmon sales are proving resilient to the effects of the global financial crisis.”

“We acknowledge the challenges ahead that the current economic environment has presented, but we remain excited by the opportunities that continue to present themselves,” Mr Ryan concluded.