Clean Seas Seafood Expects NPAT Between A$1.5 million to A$2 million

Clean Seas Seafood Limited (ASX:CSS) has decided to settle the Feed Litigation in December. Initiatives taken to reduce costs and conserve cash, along with better than anticipated sales during the lock down have positioned CSS well during ongoing COVID-19 uncertainty.

For the full year FY20, after Tax Statutory Profit is expected to range in between A$1.5 million to A$2 million. Although the Q4 sales were sales were materially impacted by COVID-19 restriction, the company’s focus on non-restaurant channels in Australia has aided in underpinning sales during the shutdown and later re-opening of restaurants at limited capacity.

Global sales volumes in June recovered to 77% as compared to prior year. For next 12 to 24 months focus shall be to maximise cash generation opportunities.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK