December 14, 2018
Moana boosts profit 11 percent
Seafood company Moana New Zealand has reported a net profit after tax of $21.4 million for the year ended 30 September 2018.
That’s 11 percent up on last year’s profit of $19.3 million.
It declared a dividend of $8.6 million to be divided among its 58 Iwi shareholders.
This brings the total dividends to its shareholders since Moana New Zealand’s inception in 2004 to $95.1 million, including a special distribution of $30 million in 2012.
Moana chair Whaimutu Dewes and chief executive Steve Tarrant say the result was 100 percent of plan, despite further cuts to the total allowable commercial catches of fin fish and wild paua, and high mortalities in the Blue Abalone farm through high water temperature.
That was offset by export sales of pacific oysters and important contributions from Port Nicholson Seafoods, especially its lobster division, and Sealord, which reported a 31 percent profit increase.
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