King salmon leaps to new record

6 January 2005

New Zealand King Salmon set a new record for sales last month – up over 5% on the previous record December.

“We are particularly pleased with this result” said Chief Executive Paul Steere.

“With 60% of our volume in exports, our sales and returns have been hit hard by the strong Kiwi with year on year diluted returns down by 11% from the USA and 6% from Japan and Australia.

The continuing application of our added value strategies has stood us well in weathering the consequence of lower foreign exchange earnings.

We have invested significantly in our breeding and harvest strategies to meet daily customer and process requirements; our streamlined production flexibility and widening product range based on consumer preferences; our logistics in providing the freshest product whether it be for New York or New Plymouth and our people, who are better trained and dedicated.

For export markets, our premium profile by comparison with the huge foreign competitors, ensures we can hold our prices at the top end of the range, even in the face of oversupply.

But the best result was in New Zealand demand – up a massive 28% on a year ago. This comes about not just from our core added value strategies but also from a consistent and substantial marketing platform. NZ Consumers not only recognise Regal Marlborough Salmon as a tasty and good value meal solution but also better understand and appreciate the nutritional benefits that come from our products high in Omega 3 content.

December also saw a new record for daily harvests with some 12,319 salmon harvested on the 27^th – up 10% on the previous record.

With strong demand for high value intensive products, New Zealand King Salmon has employed an extra 40 staff in the last 12 months, taking overall establishment to over 390 people.”

Contact:

Paul Steere 029 7783373
New Zealand King Salmon 03 548 5714
Bullen Street, Nelson, New Zealand