Clean Seas profit to double

DOING WELL: Clean Seas expects to double its profit this financial year.
DOING WELL: Clean Seas expects to double its profit this financial year.

CLEAN Seas Seafood is expecting to double its profit in the second half of this financial year with the company expecting to make between $3.5 million and $4.5 million, up from $1.8 million at the same time last year. 

Strong fish growth combined with sales growth and improved farm gate prices in the first half of this year have contributed to the company’s success.

The company said the health of its kingfish was excellent and continued to exceed the company’s historical fish performance measures. 

The new processing facility at Royal Park in Adelaide is progressing well and initial production trials are expected in the coming weeks. 

Clean Seas managing director David Head said production for the domestic market and possibly some export markets was expected to start in in the first quarter of the next financial year. 

The company will launch its new marketing campaign with improved branding in the coming weeks.