Huon Aquaculture Group has delivered a strong half year result for the six months ended December 31 2014, reporting a net profit of $25.9 million, an 11.5 per cent increase on the same period last year.
Revenue growth outpaced sales volume growth in the first half as a result of increased dollars per kilogram, which has led to strong first half earnings per share of 36.5 cents.
Peter Bender, MD and CEO of Huon Aquaculture Group, said the first half year result reflected efficiency across production activities in the first half of FY2015, adding the company was already starting to see results from its growth strategy.
“The implementation of our Controlled Growth Strategy continues to proceed smoothly and is both on time and within budget. Key operational initiatives are already demonstrating improvements in efficiency, production growth, quality, and consistency, even at this early stage of implementation,” Bender said.
Bender said the company will continue to drive growth in the second half of 2015 in key wholesale markets as well as increase market penetration in all sales channels including retail and exports.
Huon’s new Parramatta Creek procession facility in Northern Tasmania is also in the final stages of fitout and will be commissioned in the second half of 2015, which Bender says will enable greater capacity and allow the company to expand its focus on new product development.