Seafarms Group Limited (AU:SFG) has released an update.
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Seafarms Group Limited reported a larger annual loss due to investments in their strategic Project Sea Dragon and hatchery expansion, despite a successful Banana prawn crop boosting domestic sales. The company is also experiencing a surge in Black Tiger prawn exports, particularly to European markets, and is in the process of selling farms to fund further investments in Project Sea Dragon. Additionally, their Crystal Bay Prawns® brand saw increased sales, and a new revenue stream is emerging from supplying prawns with improved genetics.
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