How is this not going to be profitable when they are selling product that has already been written down in last years accounts?
You're trying to hide the reality here. If they're only making a profit because the stock was written down in the previous financial year then it is no profit at all. This is a rerun of the frozen stock they sold to China a few years back. Overall it was a huge loss.
I'm not knocking them for getting rid of old stock; they may as well get whatever return they can for it, and the longer it sits on the shelf the less they'll receive. But a loss it will be, and going forward I suspect most of CSS's future profits will be going into the pockets of Hofseth and not CSS shareholders. The product is simply too costly per kg, and the market too fickle with black swan events like corona, feed problems, and periodic fish kills.
CSS Price at posting:
62.5¢ Sentiment: Sell Disclosure: Not Held
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