TASMANIAN fish farmer Tassal has reported a strong rise in profits despite a small fall in revenue.
ASX-listed Tassal reported a 13.9 per cent jump in earnings before interest, tax, depreciation and amortisation for 2013-14, to $78.6 million.
Net profit after tax jumped 22.7 per cent to $41.1 million.
Revenue dropped 2.4 per cent to $266.3 million.
The result showed the continued success of Tassal's focus on growing value through the domestic market, CEO Mark Ryan said.
"Tassal has again produced double digit profit growth, further strengthening the company's operating cash flow and balance sheet."
"Tassal's sales initiatives and operating efficiencies continue to drive sustainable earnings growth and the generation of more dollars per kilo from domestic market sales.
"Importantly, this was against the backdrop of reduced fish supply as we dealt with the tail end of the hot summer 2012-13."
