NZ's Sanford Ltd tumbles on drop in FY profit

Sanford

14/11/2019 01:57

** Shares of Sanford Ltd  SAN.NZ  fall as much as 2.07% to
A$7.10, their lowest since Nov 5
    ** Seafood company posts a 1.44% fall in FY net profit to
NZ$41.7 mln ($26.44 mln) from NZ$42.3 mln last year  urn:newsml:reuters.com:*:nFWN27T157
    ** "We see the consequences of warmer waters and adverse
weather conditions playing out in the oceans and on our bottom
line" - Sanford CEO Volker Kuntzsch
    ** Stock posts its biggest intraday percentage fall since
Sept 30
    ** Stock has risen around 10% this year, as of last close

($1 = 1.5773 New Zealand dollars)

 (Reporting by Nikhil Subba in Bengaluru)