Salmon farmer Tassal says its focus on the domestic market is paying dividends, with its half year profit growing by 42 per cent.
Tassal made a net profit of $22.5 million in the six months to December 31, up from $15.8 million in the same period a year earlier.
Chief executive Mark Ryan said the result vindicated the company's focus on the Australian market, and lifting thr per capita consumption of salmon.
"The past six months has seen Tassal produce a strong set of results, with higher margin returns generated in the domestic market," he said.
The company was now generating more cash for each kilogram of salmon sold, and higher returns as the company's historic reliance on lower margin contract-growing and export sales had been eliminated, Mr Ryan said.
Tassal's half year revenue was flat from 12 months earlier at $134.5 million, due to an undersupply of fish following a hot 2012/2013 summer.
Revenue in the core retail operations rose by 14 per cent, but wholesale market revenue fell 28 per cent due to the undersupply of fish, and almost no export market sales.
The company expects further financial growth over the rest of the 2013/14 financial year.
Shares in Tassal dropped seven cents to $3.48.
