Fish exporter Sanford warned of a disappointing first half result, after a high New Zealand dollar ate into profit and weaker United States markets dampened sales.
Revenue was down 2 per cent for the six months ended March 31, as disappointing sales in the second quarter reversed a 15 per cent rise in the first three months.
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Profit would be boosted by a one-off gain of over $6m on the sale of Sanford's Argentine investment.
Proposals to sell the major assets in its 15-per cent owned Fishery Products in Canada were under consideration. If concluded, the sales could result in a one-off gain of about $20m, [Sanford managing director Eric] Barratt said.
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