Salmon venture

Press, 18 October 1980, Page 19

Salmon venture

Lane Walker Rudkin, Ltd, has become involved in the salmon ranching industry, the chairman (Mr N. H. Rudkin) told shareholders at the annual meeting yesterday. The new venture was at an early stage in development, but small salmon had been released in the Hurunui and Hokitika rivers. It was hoped these had already headed into the sea, and it would be two, three, or four years before they returned providing catches for fishermen, and perhaps leaving enough for L.W.R.-, he said. “If it is a success, the results should be spectacular, as world prices are high and there seems to be an insatiable demand for fresh salmon.

“I should emphasise that this is a long-term project, which the group is approaching with caution, including in the financial sense,” Mr Rudkin said. The sales of Lane Walker Rudkin Industries, Ltd, were ahead 30 per cent in the fr t three months since June 20, compared with the same period last year. This growth would con-

tinue, but at a slower rate, he said. “Profits, after taking into account the starting costs of the sea fishing project are, in line with budget, which anticipates a conservative increase upon last year’s result,” Present indications were that the company’s sea fishing venture, in which L.W.R. has a 70 per cent interest, involving the 250 tonne trawler, Cecilia Trosca, should prove profitable in its second six months of activity