21st November 2023 China / NZKS
The salmon farmer signs an exclusive distribution agreement that could deliver it sales of up to $10m as it looks to build back its fluctuating China business.
Fisheries New Zealand has been requested to make an aquaculture decision on New Zealand King Salmon’s proposed salmon farm development in the Cook Strait.
New Zealand King Salmon has appointed current sales general manager Graeme Tregidga as chief commercial officer.
New Zealand King Salmon is recalling specific batches of its Regal brand Epicurean hot smoked salmon due to the products being labelled with an incorrect date mark.
New Zealand King Salmon is recalling a specific batch of its Regal brand Epicurean Bourbon BBQ Salmon due to the product being labelled with an incorrect date mark.
Salmon farmer made the most of improved operations and strong demand for salmon in the first half, with a profit of $10.6m – quite the turnaround from last year’s $24.5m interim loss.
Current ocean management systems put commercial interests ahead of environmental ones – as illustrated by the salmon farmer’s Blue Endeavour proposal, the institute says.
New Zealand King Salmon has appointed Mark Dewdney as its new chair.
Mediation agreements with DOC and the McGuinness Institute will be formalised into consent orders by the Environment Court, according to NZKS.
Ryder joined the NZKS board in 2009. He will depart at the company’s AGM on 14 June.
It has already spent $7m on consent costs, but the company could still be years away and a significant investment off starting its Cook Strait aquaculture project.
The company returns a slim profit and improved cashflow after revamping its fish farming operations to combat mortality.
The salmon exporter is forecasting an improved FY23 after stronger than expected harvest, good sales and tight cost control – although it will remain in the red.
Sustainability think tank McGuinness Institute has filed an appeal against New Zealand King Salmon’s Blue Endeavour consent.
“Should those changes be made, DOC has signalled that it does not oppose the granting of the consent of the Blue Endeavour application,” NZKS says.
The salmon farmer has received the go-ahead to develop New Zealand’s first open-water salmon farm – a decision which is crucial for the growth of the business.
New Zealand King Salmon’s chief executive of 13 years has resigned just weeks out from a crucial decision on its application to develop the country’s first open-water salmon farm.
A direct trans-Tasman shipping route between Tasmania and key NZ ports is being launched in an effort to underpin future expansion in the aquaculture sector.
The salmon business says it has not been approached, nor is in discussions with any parties following a report it is gauging interest.
Animal rights organisation SAFE has labelled New Zealand King Salmon’s 42% fish mortality rate an animal welfare disaster, and called for an investigation and code of welfare for factory farmed fish.
New Zealand King Salmon has closed its $60.1m underwritten 2.85 for 1 pro rata rights offer.
New Zealand King Salmon has opened its $60.1m underwritten pro rata 2.85 for 1 rights offer – the proceeds of which will be used to deleverage its balance sheet and improve liquidity.
The salmon farmer expects many roles to go via natural attrition, as it reduces its harvest size from 8,000 to 6,500 tonnes.
Alongside the capital raise, the company is making structural changes to its farming model, slashing costs and shedding jobs.
The company says it will make a “material announcement regarding its full year results and a potential cap raise”.
New Zealand King Salmon has been granted permission to delay the release of its full year results due to Omicron taking out members of its finance team and audit provider.
Ōra King Salmon’s beautifully filmed Our Story documentary.
A neat look at an excerpt from Ōra King – our Story, from Ōra King Salmon of course.
New Zealand King Salmon shares have slumped 15% after the company warned of lower earnings.
New Zealand King Salmon says warm water temperatures are leading to “higher than expected sea farm mortality” that will hit earnings by up to $5m.
New Zealand King Salmon has appointed Carol Chen to its board.
A hearing into NZ King Salmon’s plan to develop the country’s first open-water salmon farm kicks-off today – with rivals expected to watch closely.
New Zealand King Salmon has advised its earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be between $8 – $10m with a stronger second half forecast.