Tassal concentrates on growing domestic market while exports impacted by high AUD
Australian salmon processor, Tassal Group Limited, has reported mixed results for the half year ended 31 December 2011.
Tassal announced a profit of AU $17. 974 million, down 8.47% from its total in the corresponding period the previous year.
Tassal Group Limited is Australia’s biggest provider, supplier and marketer of Atlantic salmon, although the company is a minor participant in the global salmon market.
Domestic market sales revenue was up 18.69% to just over $114 million. By contrast, sales revenue for the export market was down by 5.29%.
“The positive performance from the domestic market was partially offset by declining export market performance that was affected by lower overseas base pricing (NOK/Hog kg) due to excess supply, and NOK foreign exchange volatility with the USD,” a spokesperson said.
Despite the decline in revenue from export markets, total sales revenue was over $127 million, up 16.30% from the same figure in the previous year.
The company has stated in its report that a strategic plan, to be extended to June 2017, is being prepared.
“Tassal’s goal is to position the Company to deliver sustainable acceptable returns to its shareholders as the leader in salmon in Australia, selling a highly recognised and ethical valued brand and product to consumers and retailers,” a spokesperson said.