Clean Seas Seafood profits to double

Company News

by Jessica Amir

Clean Seas Seafood Limited (ASX:CSS) says its second FY2017 half profit are tipped to double on the back of strong fish growth.

The Kingfish producer expects its net profit after tax guidance to be between $3.5 million and $4.5 million for the second half of FY17, far greater than the $1.8 million from the prior corresponding period.

The company also expects its sales will rise in FY17 to up to 2,300 tonnes, up from 2,018 tonnes in FY16.

The firm says fish health and survival has remained at excellent levels, while its sales have continued to grow in Australia, Europe and USA, while Asian sales have significantly fallen.

Clean Seas Seafood will also launch a new marketing campaign in the coming weeks.

Shares in Clean Seas Seafood Limited (ASX:CSS) are trading 13.16 higher to 4.3 cents.

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