Tassal Group sides with government against Huon Aquaculture

Company News

by David Chau

Salmon farming company, Tassal Group (ASX:TGR), is siding with Tasmania's Environment Protection Authority (EPA) in a court case against its rival, Huon Aquaculture (ASX:HUO).

Earlier this month, Huon sued the EPA in the Tasmanian Supreme Court and Federal Court of Australia.

Huon is arguing that the government has failed to manage and protect the environment in Macquarie Harbour by allowing intense salmon farming at unsustainable levels.

Yesterday, shares in Tassal rose 4.77% to $4.61 at the close of trade.

Tassal posted a 9.6% rise in NPAT to $27.7 million in the first half of the current financial year.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.