Go to the website as they've issued an update after typhoon Gita.
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Any comments on the HY result? \
• Net Profit After Tax of $15.7 million, up 81% on the comparable six month period to 31 December 2016 (1H17).
• Pro Forma Operating EBITDA of $19.5 million, 169% ahead of 1H17.1
• Fully imputed dividend of 2.0 cents per share (cps) declared.
• 4,392 metric tonnes of gilled and gutted salmon sold, up 29% on 1H17.
• Average selling price improved as branding penetration increases, mainly due to Ōra King sales up 22% on 1H17.
• Impact of summer temperatures on fish survival will be reported following the summer period, as we did last year.
However, the situation has now become more challenging. The extraordinarily hot summer has impacted the survival rates of our King salmon, and this will be a principal factor behind an anticipated reduction in profits for the second half
To the point of approx 19 degrees at 5m depth. Salmon mortality occurs at 20 degrees...
I went swimming with the grandlings in Tasman Bay at 30 deg this summer - like getting into a warm bath. NZK are going to have to shift to Southland.
Good or bad, nobody talks about this stock.
The SP has gone up almost 15% in the last couple of days...
Yet I cannot find any ann. or news about why it has happened?
can someone help?
Looking into the chart - it appears it sort of bounced with low volumes at the MA200. Wouldn't read too much into it. Could be a dead cat, some overeager buyer - probably just noise.
To continue the uptrend it would need to pass the recent double top around $2.40. Not sure I see that coming without a change in the fundamentals ...
Suppose this is a pretty positive announcement, esp the bits about next years prospects
https://quoteapi.com/resources/da986...9_guidance.pdf
Certainly positive sounding ...
A bit a worry though that they still have nothing else to report about their discussions with government (and I suppose with iwi, environmental authorities and similar) than that these discussions are "continued". I guess nice he calls them "positive", but isn't the outcome somewhat overdue?
I guess a positive outcome would be better than just positive (but endless) discussion - and NZK would be rooted if they can't move and sea temperatures keep rising. Their fish mortality is already now bad enough and their dead fish (disposed in some Marlborough landfill) apparently is stinking to the sky ....Quote:
He notes "we are also continuing our positive discussions with the Government
regarding MPI plans for potential relocation of some of our farms to cooler,
deeper waters. These plans are important because they would help mitigate
the effects of seasonal temperature fluctuations. They would improve
environmental, social and economic outcomes, and allow testing of new
technologies as we plan for the next 30 years of salmon farming in New
Zealand."
https://www.stuff.co.nz/business/103...sh-in-landfill