April 18, 2021
Te Arawa Fisheries lifts profits on new strategy
Te Arawa Fisheries is reporting a $1 million increase in total revenue as it shifts to more active management of its assets.
Revenue increased by more than 20 percent to $4.5 million and it declared a net surplus of $591,000, nearly 30 per cent up on the previous year.
Chief executive Chris Karamea Insley says in the past the company had a relatively passive strategy, but future challenges make this much more risky.
He says even before the Covid-19 pandemic, the industry was starting to confront climate change, overfishing, increasing pressure from lobby groups and changes in global demand.
The company’s business strategy developed at the end of 2019 is to shift from volume to value, identifying and developing new markets and products to move up the value chain.
Mr Insley says it’s also about working smarter, using technology and expertise to enhance operations while steadily decreasing our carbon emissions.”
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