Fish farmer Huon Aquaculture says the yellowtail kingfish involved in the big piscine escape on the NSW coast during severe weather in January were worth about $1 million.
Thousands of yellowtail kingfish escaped from one of three fortress pens at a trial farming site in Providence Bay, Port Stephens during four days of rough seas.
Huon said on Wednesday that the loss of the fish was not due to the design or integrity of the fortress pen, but to "operational shortcomings" that have since been addressed.
"We are taking the necessary steps to improve operations at the yellow tail Kingfish trial site," the company said.
"The loss has delayed our harvest plans but otherwise the trial is continuing as planned."
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Huon's net profit in the six months to December 31 of $27.6 million was down 12 per cent from the previous corresponding period, as accounting adjustments of biological assets increased by $12.3 million during the half, compared to a $31.6 million increase a year earlier.
Excluding the biological assets adjustment, operating profit doubled to $19 million.
Huon said its results were supported by good growing conditions for salmon, delivering a record average fish weight of 5.29 kilograms, up from 4.84 kilograms a year earlier.
An increase of 35 per cent in harvest tonnage and continued strength in domestic salmon prices drove revenue growth of 28 per cent.
Shares in Huon Aquaculture were up two cents at $4.76 at 1410 AEDT.
BIOLOGICAL ADJUSTMENT WEIGHS ON HUON PROFIT
- First-half profit down 12.3pct to $27.6m
- Revenue up 27.6pct to $173.9m
- Partially franked interim dividend of 5 cents, up from no dividend
Australian Associated Press
