Tassal’s accelerating growth delivers record result

Company News

by Anna Napoli

Tassal (ASX:TGR) has addressed the Market Eye Investment Conference flagging it's accelerating growth, operating net profit for 1HFY19 is up 22.3 per cent to$31.7m compared to the year earlier period.

Meantime, operating earnings (EBITDA) rose 20.8 per cent to $64.3m.

Looking forward, the company says it expects to see a higher skew of earnings towards the first half of 2019 versus the second half as was experienced in FY18.

Tassal says it expects a more gradual growth and sales curve for salmon is expected over the short term.

Shares in Tassal (ASX:TGR)  are trading 2.53 per cent higher at $4.87.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.