Oyster cull fails to dent Sanford profitsRobyn Edie 623559140 Sanford's Stewart Island salmon farm at Big Glory Bay. Destruction of their Stewart Island oyster farms was not enough to dent the profits of Sanford Ltd, as they posted an 8 per cent increase in its net profit after tax for the year ending September 30, 2017. Net profit was $37.5m, with revenue increasing 3 per cent to $477.9m for the same period at New Zealand's largest seafood company. Releasing their products from their Stewart Island salmon and mussel farms to market was counted amongst the successes for the year. The increased value strategy was credited with increasing revenue despite actual sales by greenweight tonne remaining flat.

Source: Stuff November 19, 2017 03:22 UTC