News | Business
25 Feb 2018 2:49
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Seadragon bucks trend with solid outlook

    Seadragon shares swam against the market Wednesday, rising on the company's forecast for earnings to improve with solid demand for its fish oil products.


    Seadragon shares swam against the market Wednesday, rising on the company's forecast for earnings to improve in the current financial year with solid demand for its fish oil products.

    The shares rose 20 per cent, or 0.1 cents, to 0.6c on a day when the global rout caught up with New Zealand after Tuesday's holiday and driving a 1.3 per cent decline in the S/NZX All Index, with 79 of the 113 stocks down in early trading.

    Seadragon was one of the 29 to gain after saying it shipped more than 100 tonnes of tuna oil to multiple customers in December and January and had solid demand in the pipeline for the year ahead.

    "The minimum volume we have firm orders for is close to 400 tonnes of semi-refined tuna oil, with strong signals from these customers that their combined demand over the next year will increase further," chair Colin Groves said in a statement.

    Nelson-based Seadragon reported a normalised ebitda loss of $2.2 million in the six months ended September 30 and said the full-year result would be linked to securing new customers, vaguer guidance than at the annual meeting when it was predicting a smaller ebitda loss than the $4.4m posted the year earlier.

    In November, the company drew down on the last $1m of its convertible loan facility with shareholder Comvita and said it had enough funds to grow provided it met sales targets.

    However, Mr Groves said Seadragon will need more cash to boost sales.

    Seadragon has previously linked a breakeven position to when it sells 600-to-700 tonnes of fully refined tuna oil in a 12-month period.


    NZN




    © 2018 NZN, NZCity


     Other Business News
     24 Feb: NZ banking on ODI form against England
     23 Feb: CBL Insurance is in interim liquidation
     23 Feb: Northport upbeat on regional fund
     23 Feb: Santa complaint against Coca-Cola upheld
     23 Feb: Comvita swings to first-half profit
     23 Feb: Despite profit, NZ Post facing challenges
     23 Feb: Delegat's 1H profit up, heady about year
     Top Stories

    RUGBY RUGBY
    Brumbies survive Sunwolves rugby scare More...


    BUSINESS BUSINESS
    NZ banking on ODI form against England More...



     Today's News

    General:
    Winter Olympics: Australia's men's bobsleigh team record fastest run on day 15 in Pyeongchang 22:45

    Rugby:
    Brumbies survive Sunwolves rugby scare 21:55

    Entertainment:
    Quincy Jones has apologised for a recent string of controversial comments he made about stars including The Beatles and Michael Jackson 21:35

    Law and Order:
    Broncos avoid scare in PNG trial win 21:15

    Entertainment:
    Kim Cattrall's 'Sex and the City' love interest Jason Lewis has slammed the star for her negative comments toward co-star Sarah Jessica Parker 21:05

    Entertainment:
    Kourtney Kardashian has said “meditation” is the key to staying sane as a mother of three young tots 20:35

    Entertainment:
    Rachel McAdams is reportedly expecting her first child 20:05

    Entertainment:
    Jennifer Lawrence has hit out at Harvey Weinstein after he used her name in his defence when responding to the class action lawsuit against him 19:35

    Cricket:
    Auckland cruise to one-day win over CD 19:25

    Entertainment:
    Ed Sheeran wore a balaclava to disguise himself at a public firework display in Lewes, England 19:05


     News Search






    Power Search


    © 2018 New Zealand City Ltd