Marine Farms loses $2.4M
PA Wellington New Zealand Marine Farms, Ltd, yesterday announced an unaudited loss of $2,436,000 ($890,000 previously) in the year to September 30. The result includes extraordinary losses of $716,000 ($97,000) of which $619,000 relates to the substantial loss of salmon stock at Crail. Bay, Marlborough, reported in October.
The directors would tell shareholders about
the direction of the company in the next two weeks, the directors said in a statement to the Stock Exchange. Turnover for the year was $292,000 ($13,000), and the net trading operating loss was $1,720,000 ($793,000). Marine Farms fell 45c to 95c, its low for the day, on the Stock Exchange yesterday, after trading as high as 135 c. Volume in the issue was quiet.
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Press, 4 February 1987, Page 37
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123Marine Farms loses $2.4M Press, 4 February 1987, Page 37
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