New Zealand King Salmon Investments logged a net profit of NZ$28.5 million ($26.2 million) for FY24, a significant increase from NZ$1.9 million ($1.7 million) in FY23.

New farming strategies drove pro-forma EBITDA to NZ$24.5 million ($22.5 million), up from a loss of NZ$2.7 million ($2.5 million) in FY23.

The strategies reduced summer mortality expenses from NZ$25.9 million ($23.8 million) in FY23 to NZ$12.6 million ($11.6 million) in FY24, coupled with a 12% revenue growth to NZ$187 million ($171.8 million).

Chair Mark Dewdney attributed the financial turnaround to the strategies, noting a continuation from FY23.