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NZ King Salmon shares have lost 71% of their value this year - 5 things you should know

Summary by Ground News

New Zealand King Salmon reported a loss of $73 million for the year to the end of January. A lot of its fish died as a result of warmer sea temperatures over summer. The company decided to change its farming practices and cut back on the use of its warmer sites. This is going to reduce its future harvest volumes and cashflows, and because of that it was forced to write down the value of its assets.

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NZ King Salmon shares have lost 71% of their value this year - 5 things you should know

The salmon farmer produces a premium product and has great potential, but it’s in a really tough spot at the moment.

3 years ago·New Zealand

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Stuff broke the news in New Zealand 3 years ago on Thursday, May 26, 2022.

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