If you look at Note 3 (c) - Depreciation of non current assets only increased $5m (likely from the upgrades & prawn infrastructure in last 12 months). $8.2m of depreciation expense is a result of AASB16 leases for their rent (just comes down to timing of lease agreement - earlier in the life of the agreement negative profit impact, later in lease agreement life positive profit impact). Given right of use assets increased $5-6m i'd suggest Tassal have re signed some lease agreements / new agreements. For analysing profitability the $8m timing of AASB16 leases adjustment can be ignored year on year IMO.
TGR Price at posting:
$3.32 Sentiment: Hold Disclosure: Held
