why is Tassal so cheap? what am I missing?, page-5

NZK AGM today, their FY is to Mar AFAIK, they had some issues due to smaller fish size and mortality events;

Some notes that may (or may not) be relevant to us;

• Reduction in availability of chilled sea freight containers

Do we distribute via chilled sea freight... for some reason i just assumed it was air cargo.

More forward looking;

• US demand strong
• Opportunities for price increases to recover lost margins
• They expect to achieve average prices above pre-COVID levels after they get rid of excess stock
• Margins likely to be impacted by higher freight and distribution costs (no surprise there)