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Listed fishing company Sanford has warned that its revenue for the six months to March 31 will be down 2 per cent compared to last year after a disappointing second quarter.
"While demand has been strong for many species in Europe, weaker markets in the United States have resulted in lower volume sales of orange roughy, greenshell mussels and toothfish," the company said.
The high dollar would also flatten the half-year result - due May 30 - with the company expecting foreign exchange losses in excess of of $7 million for the period compared to a $7 million gain last year.
At an operating level earnings before interest, tax, depreciation and abnormals (ebitda) is expected to increase slightly for the six months.
Sanford shares closed unchanged at $4.96.
