Mild winter leaves Seafresh in red

Seafresh New Zealand has reported a full-year net loss of $4 million, wider than the previous year's net loss of $2.8 million.

This comes after writing off unrealised tax benefits of $2.1 million.

The company said the past year was very difficult for deep-sea fishing in southern oceans because the short, mild winter meant there wasn't a major schooling of fish.

Coupled with fewer boats working the fishing grounds and therefore less information about fish movements, this reduced the opportunity for good catches of orange roughy, the company said.

One of its fishing boats had also sunk at its moorings in March last year following a fire.

Seafresh said it believed cyclical weather patterns would improve fishing conditions in coming years.

"Demand for fish is consistent and prices have been stable. The opportunity for upward movement is good."