[16 November/ Stuff]

Increased investment by Sanford in its Timaru operation has been welcomed as a sign of continued commitment to South Canterbury’s economy. Sanford’s annual report detailed plans to finish building a multi-purpose room to provide better capacity and flexibility for processing toothfish and fresh fish at the Timaru factory. The report also noted commissioning issues with the $25 million addition to Sanford’s Timaru-based factory fishing fleet, San Granit, and the 10,000 tonnes of fish the fully commissioned ship was now expected to land at the Timaru facility annually. The report stated Sanford’s after-tax profits increased 8 percent from $34.7 million last year to $37.5m in 2017. Sanford said the result was partially impacted by the $4 million bedding in process for the San Granit. Aoraki Development Chief Executive Nigel Davenport said the region is pleased to hear of any investment Sanford is undertaking focused on its Timaru operation.