Sanford Achieves Record Earnings Amid Strategic Restructuring

Sanford ( (SARDF) ) has released its Q4 earnings. Here is a breakdown of the information Sanford presented to its investors.

Sanford is a leading seafood company operating in the aquaculture and fishing sectors, known for its focus on sustainable seafood production and its extensive asset base in New Zealand. In its latest earnings report for FY24, Sanford announced a record adjusted EBIT of $74.2 million and a significant increase in net profit after tax, up 96% from the previous year to $19.7 million. The company also reported a 5% rise in revenue to $582.9 million, driven by strong sales volumes across its key divisions, including mussels, salmon, and wildcatch. Despite global economic challenges, Sanford achieved substantial growth in operating cash flow, which increased by 78% to $73 million, and reduced net debt by 5.5% to $185.5 million. Looking ahead, Sanford is committed to optimizing its operations through a strategic review aimed at cost reduction and improved productivity, with an emphasis on sustainability and climate-related disclosures. The company anticipates continued demand for its seafood products, with a focus on maintaining strong financial performance and shareholder returns.