Sanford Reports Record Earnings and Cash Flow Amid Restructuring

Sanford Limited (NZX: SAN), a leading New Zealand fishing company, reported strong financial results for the year ending September 30. Under the leadership of new managing director David Mair, Sanford achieved a significant 96.5% increase in net profit after tax, reaching $19.7 million, with revenue up 5.3% to $583 million. Despite costs from asset revaluation and a non-cash tax adjustment totaling $19.9 million due to updated tax legislation, the company delivered robust performance. Sanford declared a final dividend of 5 cents per share, bringing the total for the year to 10 cents per share. At the time of writing, shares rose 4.4%, highlighting investor confidence in the company's strategic direction.

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