Angel Seafood quarterly report shows 2.7m sales of oysters, revenue of $2 million
Angel Seafood – the largest producer of certified organic and sustainable pacific oysters in the southern hemisphere, have recently shared their quarterly ASX report.
- Record sales of 2.7m oysters, up 78% on pcp and an all-time record high, driven by Angel’s ‘multi-bay’ strategy and retail sales momentum
- Angel was the first company to adopt a game-changing and leading multi-bay strategy that consolidates farming from spat to mature oysters to produce high continuity in supply of oysters for different trading channels.
- The multi-bay strategy provides the business with a competitive advantage to optimise growth conditions and fast track production and revenue as production per hectare of water is higher than traditional farming methods
- Revenue of $2.0 million, up 71% on pcp.
- Cash receipts from customers were $1.9 million, up 50% on pcp.
- Strong stock position coming into peak demand period
- 22 million graded oysters now in stock with a biomass of 256T, a 31% increase compared to biomass of 196T as of 30 September 2019
To read the full report, click here.
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