Sealord calls in experts after shock loss

Last updated 12:58 13/03/2014

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Nelson-based Sealord has called in international consultants in a bid to recover from their first loss in 20 years.

A Sealord spokeswoman said it had hired Deloitte to "assist us to review our [sales and operations] planning process".

The Sealord spokeswoman said reports in a fishing industry web service, Undercurrent News, about the Deloitte operation were incorrect, but Sealord would make no further comment.

The company is half-owned by Japan's Nippon Suisan Kaisha Ltd and by Aotearoa Fisheries Ltd (AFL).

Auckland-based AFL has reported that earnings plunged $23 million while Sealord Group posted a $36.54m loss.

Sealord's board will face Maori shareholders at the AFL annual meeting this month. Sealord's problems have come mostly as a result of a disastrous Argentinian fishing adventure.

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