$33m in profit, and Tassal angling for more
Australians are eating more salmon, which means another year of booming sales for Tasmanian fish producer Tassal.
The company made a net profit of $33.4 million in the year to June 30, a 19.1 per cent rise from the previous year's $28.1 million.
Revenue grew by 3.9 per cent to $272.8 million, while earnings increased 14 per cent from the previous year as more Australians added salmon to their plates.
Since 2006, Tasmanian salmon consumption in Australia has increased from 1.08 kilograms per person, annually, to 1.63kg in 2013.
"Tassal's successful marketing campaign has enabled the company to strongly grow domestic volumes through increasing per capita consumption," chief executive Mark Ryan said.
The fish producer's full-year results show it made more money from selling less fish, with total volume down 3.8 per cent and revenue up 3.5 per cent.
"We are now sustainably generating both more sales dollars and dollars per kilogram from slightly less volume sold," Mr Ryan said.
"It's really pleasing to see that the stars have aligned."
Revenue from retail sales of Tassal's fresh and smoked salmon range jumped 17.8 per cent between 2012 and 2013.
The producer expects this to rise further in 2014 after it signed two and three-year agreements with the major supermarkets, with 70 per cent of Tassal's volume now under contract. Tassal also plans to increase prices to offset losses generated by last summer's higher water temperatures.
On Tuesday, Tassal shares closed up 6¢ at $2.65.