Clean Seas Tuna (ASX:CSS) is expected to trade higher after...

Clean Seas Tuna (ASX:CSS) is expected to trade higher after reporting a statutory profit after income tax for the year of $11.145 million.

This compares very favourably with a FY2013 loss $34.457 million.

The result exceeded budget and includes an underlying operating profit of $1.255 million, heralding a return to profitability previously forecast to be reached in the 2015 financial year.

Whilst a strong contribution from CSS' Kingfish operations was expected, an underlying operating profit in advance of target demonstrates the effectiveness of the Yellowtail Kingfish strategies.

This earlier than anticipated return to operational profits has arisen from a significantly improved biological performance, maintaining a premium market price and ensuring costs are controlled.

A priority focus on fish health and performance has been implemented with diet improvements, leading to improved growth rates, survival levels and hatchery productivity.

Continuing sales for use in Sashimi and white table food service is delivering a premium against commodity fish markets.

The company is valued at around $65 million.