[ADELAIDE ],21 FEBRUARY 2024 o Operational Review on track to deliver "right-sized" business, with sales and production at circa 3,000 tonnes per annum o Maintained pricing atA$22.53 /kg for 1H FY24 versusA$22.43 /kg for 1H FY23 andA$23.02 /kg for 2H FY23 in a highly competitive trading environment o Operating profit remained positive despite higher feed costs, but declined fromA$1.04 /kg in 1H FY23 toA$0.11 /kg in 1H FY24 o Completed Placement ofA$9.5M and renewedA$32.2M bank facility to support working capital and the Operational Review o Biomass reduction complete savingA$11.0M in feed costs over the next 14 months versus growing these fish to harvest size and resulting in anA$12.2M impairment to biomass & frozen inventory and a statutory loss ofA$25.9M after tax o Targeted reduction in fixed and variable operating costs of up toA$5.0M per annum underway and on track o Feed prices easing from record highs, with price reductions in 2H FY24 The full Media Release is attached. Authorised for release by the Board ofClean Seas Seafood Limited . For further information please contact:Rob Gratton CEO rob.gratton@cleanseas.com.au
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