Record sales growth for Kingfish Company
European land-based yellowtail kingfish producer Kingfish Company NV has reported that a “substantial sales acceleration” was achieved in the second-quarter of 2024, with its volume of 512 tonnes in the period representing a 36% increase compared to the same period last year.
According to its latest trading update, the growth seen in Q2 2024 was a result of focused efforts to penetrate key markets and expand into new territories, driving the company’s revenues to €7.3 million, a 31% increase from Q2 2023.
“The additional investment in commercial activities has begun to yield results, resulting in market growth for Kingfish Company’s main product yellowtail kingfish, in the professional and retail sectors,” it said.
Its update added: “The biological performance of the farm was impressive, with the biomass growth in the quarter being 631 tonnes.”
Compared with Q2 2023, Kingfish Company’s standing biomass more than doubled to 1,075 tonnes at the end of Q2, 2024.
“With the RAS systems functioning optimally, the company continues to prove its capability in producing high-quality fish in a reliable, consistent, and sustainable manner,” it said.
The company will release its interim Q2 and HY 2024 financial results on 5 September 2024.
Current annual production capacity at the Kingfish Zeeland facility in the Netherlands is 3,500 tonnes of yellowtail kingfish. Meanwhile, in the US, Kingfish Maine is now fully permitted by local, state, and federal regulatory agencies to build an 8,500-tonne production facility.
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