New Zealand Coastal Seafoods (ASX:NZS) has extended its supply contract with Aquadev for a further 12 months.

NZCS will supply Aquadev, a meat and seafood distributor in Victoria, with up to $NZD1.7M of dried ling maw, increasing the previous contract value from NZD$800,000.

The company says the extended agreement is a result of strong demand for its dried ling maw products through Aquadev's distribution channels.

It also says the renewed contract broadens the distribution scope to New Zealand, providing further sales growth opportunities for NZCS, and a first shipment valued at NZD$0.5M is expected to be delivered in June 2023.