Fishing company Sanford said it expects its net profit to fall by 46 per cent in the year to September 30 due to the impact of Covid-19, but that its balance sheet remained strong.
The company expects its net profit to come in at $22.4 million, down from $41.7m, in the previous financial year, in part driven by a lower-than-expected Patagonian toothfish catch.
Total revenue was forecast to fall by 14 per cent to $468.8m.
Sanford's adjusted earnings before interest and tax (EBIT) was forecast at $38.3m, down 41 per cent.