Clean Seas Tuna significantly increases its sales
ASX-listed Clean Seas Tuna has increased its sales for the 2016 financial year by 83 per cent when compared to the 2015 financial year.
Clean Seas Tuna, Australia’s only commercial producer of kingfish, said its sales volumes continued to grow strong in the fourth quarter of the financial year with total sales for the year reaching approximately 2, 012 tonnes.
In its 2015 financial year, Clean Seas Tuna sold 1, 098 and in its 2014 financial year it sold 571 tonnes.
Clean Seas Tuna was established in 2001 by the Stehr Group of Companies, a seafood group based in South Australia. The company was listed on the Australian Securities Exchange (ASX) in 2005.
Strategic alliance with Beston Global Food Company announced
At the same time as revealing its 2016 financial year sales, Clean Seas Tuna announced it has secured a strategic alliance with Beston Global Food Company.
Clean Seas Tuna will supply fresh and frozen Kingfish to Beston Global to then sell in China, Hong Kong and South Korea.
Beston Global Foods was established four years ago with the intention of selling Australian food into Asian countries. The company was started by its current Chairman, Dr Robert Sexton, an investment banker who is also the Chairman of financial product group giant, IOOF.
The initial contract between Clean Seas Tuna and Beston Global Foods will last between June 2016 and December 2017 and includes an initial shipment of 176 tonnes of frozen product (counted as part of Clean Seas’ 2016 Financial Year sales).
It is expected that at least 340 tonnes of product will be supplied to Beston throughout the remainder of the contract period.
“This exciting development will facilitate the establishment of Clean Seas’ Kingfish as a premium Australian seafood product in the Chinese and South Korea markets,” Clean Seas said in its ASX update.
“Clean Seas and Beston will be working together to develop these markets, leveraging Beston’s networks and relationships in the region and Clean Seas’ outstanding Kingfish.”