Tassal reports profit lift, capital raise

Salmon farmer Tassal has lifted its full-year profit 2.0 per cent to $58.4 million ahead of a capital raising announcement.

Revenue for the 12 months to June 30 jumped 15.7 per cent to $560.8 million as demand outpaced supply and Tassal will pay a partially franked 9.0 cent final dividend, compared with a fully franked 8.0 cents a year ago.

The company’s shares are in a trading halt before a to-be-announced institutional placement and share purchase plan, which Tassal says will fund strategic capital investment and fish biomass optimisation amid current favourable growing conditions.


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