Photo: NZ King Salmon/Supplied
New Zealand King Salmon has fallen to a loss in the eight months to September thanks to an abbreviated reporting period after changing its financial year, and lower salmon weights reducing harvest volumes.
Key numbers for the 8 months ended September compared with 12 months to January 2025:
- Net loss $6.3m vs net profit $13.4m
- Revenue $117.7m vs $210.9m
- Operating profit $7.1m vs $29.7m
- Sales volumes 3,260 MT vs 6,582 MT
- No dividend
- NB: King Salmon has changed its reporting year from January to September
The company reported a net loss of $6.3 million for the 8 months ended 30th September 2025 compared to a net profit of $13.4 million for the 12 months ended 31st January 2025.
New Zealand King Salmon chairperson Mark Dewdney said the results were the first under its revised balance date, reflecting the shortened reporting period.
The company has been grappling with low fish weights in recent years, which reduced available harvest volumes.
"Despite facing some challenges with fish performance over the 24/25 summer, we have made significant strides by strategically investing in our future growth," Dewdney said.
Chief executive Carl Carrington said the company had "several initiatives underway to strengthen our core business and improve fish health and performance, some of which are already yielding meaningful results".
Among the initiatives was a deliberate decision to reduce harvest volumes to rebuild stocks, and trialling new diets to increase salmon weights.
The company projected 2026 operating profit to be between $9m and $15m, with a harvest volume between 5500 and 5900 metric tonnes.
Capital expenditure was forecast between $28m and $36m.
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