Secondary producer of nutraceuticals, seafood products and premium marine ingredients New Zealand Coastal Seafoods Limited (NZCS) has reported a significant acceleration of its sales growth in the second-quarter of the financial year 2022.
The company achieved sales of NZ$892,779 during October and November 2022 – already a 25% increase on sales generated across the entirety of the prior comparative period Q2 FY2022 sales.
New Zealand Coastal Seafoods CEO Andrew Peti said: “The company has made very strong progress in recent months, highlighted by a step-change in sales momentum during H1 FY2023. Pleasingly, October and November 2022 sales have already eclipsed the entirety of Q2 FY2022.”
NZCS also advised that its recent sales momentum has flowed through to total sales of NZ$2,079,206 in H1 FY2023 to-date, already a 27% increase on H1 FY2022 sales, and ahead of the busy December 2022 sales period.
The strong result has been underpinned by increased sales volumes of the company’s premium marine products, predominately dried ling maw, in both branded and bulk purchase formats.
NZCS has also benefited from relaxed travel restrictions.
“As travel restrictions associated with the Covid-19 pandemic continue to relax, the company has been able to undertake a number of business development initiatives across key Australasian markets. This has laid a very strong foundation for growth, and the executive team continues to advance a number of new commercialisation opportunities that remain in the pipeline,” Peti said.
