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Murray Cod Australia Limited ( (AU:MCA) ) just unveiled an update.
Murray Cod Australia reported strong operational growth for the March quarter, with biomass rising 32.7% to 3,700 tonnes, equating to about $78 million of saleable stock at current wholesale prices. The company’s Stanbridge site is now fully operational across 108 grow-out ponds and has transitioned from diesel generators to mains electricity, a move expected to materially cut monthly energy and maintenance costs.
Sales volumes rose 48% year-on-year to 149.8 tonnes, driven by a 77.8% increase in processed fish sales, while live fish volumes lagged and prompted a revised operating agreement with the external contractor. MCA expanded its domestic reach through distribution to 130 Woolworths stores, launched frozen fillet “shatter pack” products for the HORECA channel, and grew international sales from a low base, while adjusting prices lower to stimulate demand for smaller plate-sized fish without losing its premium positioning.
Leadership changes saw non-executive director Steven Chaur appointed CEO with a mandate to accelerate revenue growth and operational improvements, and an experienced foodservice executive, Jerome Joseph, hired as chief commercial officer to sharpen domestic sales execution. Although the quarter included $610,000 of nonrecurring executive exit costs and higher fuel, water and freight expenses, management is now focused on converting the enlarged biomass into more predictable cash flows through diversified channels and strengthened sales execution.
More about Murray Cod Australia Limited
Murray Cod Australia Ltd is an aquaculture company listed on the ASX that focuses on farming and selling Murray cod, a premium freshwater fish, from its pond-based operations in New South Wales. The business targets both domestic and international markets through channels including grocery, foodservice and live fish distribution, positioning its Aquna Murray Cod brand in higher-value segments relative to competing species.
Average Trading Volume: 145,216
Technical Sentiment Signal: Sell
Current Market Cap: A$32.22M
See more insights into MCA stock on TipRanks’ Stock Analysis page.