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Sanford cost reduction strategy to be ‘rigorously pursued’

Sanford’s new managing director hints at fat-cutting plans.

Salmon farming at Big Glory Bay, Stewart Island.

Kate McVicar Fri, 15 Nov 2024
Key points
  • Revenue: Up 5% to $582.9m.
  • Profit: Up 96% to $19.7m.
  • Main takeaway: New cost-cutting measures will be pursued in FY25 but the benefits aren’t expected to flow through until FY26.

Sanford’s managing director David Mair, who was appointed in May, hinted at strategic reviews and cost cutting strategies in the company annual results reported this morning. 

Sanford reported revenue up 5.3% to $582.9 million in the year to September 30, while net profit after tax increased 96%

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Kate McVicar Fri, 15 Nov 2024
Contact the Writer: kate@nbr.co.nz
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Key points
  • Revenue: Up 5% to $582.9m.
  • Profit: Up 96% to $19.7m.
  • Main takeaway: New cost-cutting measures will be pursued in FY25 but the benefits aren’t expected to flow through until FY26.
Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
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52 Week High
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Sanford cost reduction strategy to be ‘rigorously pursued’
Investment,
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