NZ King Salmon shares bounce up almost 10%

The S&P/NZX 50 index rose 60 points, or 0.5%, to 12,178.76. Turnover was $131.4 million.

A better-than-expected end to its production season saw NZ King Salmon revise its earnings guidance today and in turn saw its share price bounce.

The listed salmon farmer provided a trading update this morning, which said the salmon harvest at its Ruakaka farm, in the Queen Charlotte Sound, had outperformed expectations. 

Instead of expecting a loss of earnings before interest, tax, depreciation and amortisation (Ebitda) of between $8m and $12m, the company revised the loss to be between $3m and $5m.