Sanford Limited Reports 110% Surge in Net Profit and 4% Revenue Increase; EPS Reaches 36.4 Cents

Reuters
15 May
Sanford Limited Reports 110% Surge in Net Profit and 4% Revenue Increase; EPS Reaches 36.4 Cents

Sanford Limited has announced its interim financial results, highlighting a record profit for the company. The revenue for the period reached $286.0 million, marking a 4% increase compared to the previous comparative period. Notably, the net profit after tax (NPAT) saw a significant rise, reaching $34.0 million, which is a 110% increase over the prior period. The operating cash flow also improved dramatically, showing a $49.6 million inflow, which is a $41.3 million or 498% improvement from the previous period. Net debt decreased by $55.4 million to $165.1 million from $220.5 million in March 2024. Sanford is focusing on operating as a commodity player, emphasizing cost reduction and efficiency. The company has witnessed a strong performance from its salmon business, with revenue and contribution up by 24% and 32%, respectively. This was achieved by strategically advancing sales to reduce stock in water during high-risk summer months. Earnings per share attributable to equity holders of the company during the period were 36.4 cents. The company has undergone significant organizational changes, including a streamlined senior executive team, to adapt to market conditions and enhance competitiveness.

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