News: CSS Clean Seas Seafood Says Challenging Market Conditions Persisted Throughout H1 FY24

Jan 15 (Reuters) - Clean Seas Seafood (CSS) :

• CHALLENGING MARKET CONDITIONS HAVE PERSISTED THROUGHOUT H1 FY24, RESULTING IN FLAT SALES VOLUMES YEAR-ON-YEAR
• PRICES FOR H1 FY24 REMAINED STRONG, WITH REVENUE OF A$22.53/KG AHEAD OF H1 FY23 OF A$22.44/KG
• AUTOMATED FEED BARGE ON TRACK TO BE DELIVERED AND IMPLEMENTED IN MID-2024
• FRESH PRICES HAVE HELD UP PARTICULARLY WELL AT A$22.88/KG IN H1 FY24 VERSUS A$22.63/KG IN H1 FY23
• FROZEN PRICES DECLINED TO A$20.23/KG IN H1 FY24 VERSUS A$21.23/KG IN H1 FY23
• BIOMASS REDUCTION COMPLETE, EXPECTED TO SAVE A$11 MILLION IN FEED COSTS OVER NEXT 14 MONTHS
• SEES PREVIOUSLY ADVISED NON-CASH SGARA IMPAIRMENT OF BETWEEN A$13.5 MILLION AND A$14.5 MILLION IN FY24 TO BE REDUCED PROPORTIONATELY