Sanford Earnings FC effected by FX changes
SAN exports practically all its produce and will therefore significantly benefit from
a lower exchange rate. A 1c movement in the NZD versus either the USD or JPY
will boost after tax earnings by NZ$2m.
The above quote is from Aspect Huntly research 4 Dec 08.
I like to state a few facts : Average exchange rate in San 2008 financial year (to 30 Sep).
1NZ$ approximately US 0.75
1NZ$ approximately Jap Yen 81
First 8 months 2009 financial year
1NZ$ approximately US 0.56
1NZ$ approximately Jap Yen 54
San NPAT in the 2008 Fin year was NZ$31.5 mil.
English is not my first language and I fail to be able to work out what San NPAT will be in 2009 fin year (assuming everything else stays the same).With other words I do not get the above sentence 'A 1 cent movement in the.....'.
Would be great if somebody can put some light on this.
Thanks in advance.
Forest
Charges laid against Sanford's detained tuna fishing ship
Is this the reason for the sp decline from $4.20 to 3.80 last 2 days
(What happened 6 weeks ago? Was $4.80)
http://www.nbr.co.nz/article/charges...ship-ng-106028
Impacts could include:
- Lost production (vessel out of action)
- Legal costs to defend
- Potential fines
- Diversion of management attention
NBR
Charges laid against Sanford's detained tuna fishing ship
Nevil Gibson | Wednesday December 07, 2011 | 3 comments
Seafood company Sanford is facing seven sea pollution and other charges in American Samoa over the operation of tuna fishing boat.
The San Nikunau has been detained since July 2011, when the US Coast Guard began an investigation into allegations it had been illegally dumping "oily bilge waste" for the past four years.
The US Deartment of Justice also alleges Sanford to maintain accurate oil records, obstruction of justice by presenting false documents and deceiving the US Coast Guard during an inspection.
If convicted, the DoJ says, the company could be fined up to $US500,000 per count plus the "gross gain or loss that resulted from the ciminal conduct." The indictment also seeks "criminal forfeiture" of more than $US24 million from proceeds that Sanford derived from its actions.
Sanford denies the allegations and says it would never permit discharges of pollutants into the ocean or obstruct a reasonable investigation.
"We will be vigorously defending all the charges and continuing our efforts with authorities in American Samoa to get the vessel released to enable it to return to fishing," Sanford managing director Eric Barratt says.
Earlier reports have said Sanford petitioned the High Court there to release the ship on grounds it has not violated any laws and the detention is illegal.
The San Nikunau is one of Sanford's three large-scale tuna purse seiners, which catch mainly skipjack tuna, some of which is processed by one of the two canning factories in Pago Pago.
Sanford says the vessels operate under New Zealand maritime law but are also subject to regulations in American Samoa.
Allegations of underpayment of foreign crews by Sanford partner
If allegations of underpayment by crews working for its partner Dongwon Fisheries are sustained by the Employment Relations Authority then surely Sanford will terminate its relationship with this partner.
Do continueing breaches of public policy objectives by their partner expose Sanford to the risk of loosing their rights to fishing quota?
Boop boop de do
Marilyn
More detail, up to date released today.
https://www.nzx.com/files/attachments/236290.pdf
Include in the link is the info about mussel spat which I have copied below.
[/urlSanford’s mussel farming operations
with its geographical spread around
New*Zealand, including trials in
off-shore areas and the emerging spat
volumes from Shellfish Production
and Technology (SPATnz), are well
placed to achieve increased raw
material supply in line with market
demands and our plans for this
business.
The SPATnz hatchery opened in
Nelson in April last year and has been
performing to expectations. The
hatchery is fertilising two billion eggs
every six weeks. These grow into spat
that will produce around 10,000
tonnes of Greenshell mussels at
harvest annually. The hatchery team
continue to make research discoveries
that improve consistency of the spat
production process and better
understand particular traits of the
different mussel families. Plans are
underway to move the capacity of the
hatchery to 30,000 tonnes by the
end of this financial year. The
advantages of hatchery spat over wild
sourced spat are a consistent and
reliable supply coupled with superior
performance. We are very excited
about this development, which we
believe will be a significant factor in
the ongoing development of the
Greenshell mussel industry in
New*Zealand.
Four insiders buying at the same time.
SAN had unusual high turnover in shares so far this month on a rising share price.
This together with four insiders buying 200,000 shares.
The ones buying were CFO, CCO, CFO and the COO.
Between them you would expect that they know how the company is doing.
I cant help but think good results are in the pipe line.
Results are out, looks not to fishy to me.
16 November 2016
Name of Listed Issuer: SANFORD LIMITED (SAN)
FINANCIAL RESULTS for the year ended 30 September 2016
Sanford reports 152% Improvement in Annual Net Profit With Increased Focus on Value Creation From Reduced Wildcatch
Highlights
1. Financials
• Significantly improved NPAT of 152% to $34.7m from $13.8m in F15. Operational performance improved by 85.5% with reported EBIT of $57.7m (2015: $31.1m)
• Reported EBIT, as a proportion of sales, grew from 6.9% to 12.4%, which reflects the focus on more value add, in particular fresh (non-frozen), products
2. Sales
• Revenue increased from $450.3m in 2015 to $463.5m, with sales volume down 11.1% compared to prior year. Volume was mainly impacted through discontinuation of skipjack tuna operations in the Central and Western Pacific region and limiting catches of pelagic species in line with demand
• Greater focus on domestic customer base and food service resulting in strong growth in the New Zealand market
• Product pricing was generally favourable, but mussels suffered from strong competition, underlining the focus for product diversification
3. Wild catch volume (Inshore and Deepwater)
• Lower catches in the pelagic sector (mackerels, tunas) and variable performance of the fishing fleet led to a 6.5% reduction in landings compared to prior year
• A focus on higher value species including toothfish and orange roughy and improved squid catch compensated for the reduced overall catch
4. Aquaculture (King salmon and Greenshell mussels)
• Strong domestic demand for fresh salmon enabled improved product cascade at greater operational efficiency
• Lower feedstock cost and better feed conversion rate also contributed to improved results.
• The positive salmon performance compensated the impact of El Niño producing less than desirable large mussels in the early part of the year, although mussel harvest volume increased 4.5% year on year
Percy, welcome aboard the Sanford voyages.
Comforting to know even an experienced guru like yourself is getting into SAN. Let the creeping up long continue.