Kiwis Savour Regal Salmon

4th January 2007

2006 was a record year for The New Zealand King Salmon Co Limited.

With overall growth of 19 per cent on the previous year the company has had its most successful year yet.

King Salmon is particularly pleased by the continued growth of over 15 per cent in New Zealand consumption for the year, meaning that Kiwis have consumed one third more salmon over the past two years.

‘We have a high focus on the New Zealand market,’ says Chief Executive Paul Steere, ‘and it is encouraging to see more Kiwis choosing salmon more frequently’.

Along with its high content of beneficial Omega-3, Regal Salmon is also an excellent source of protein, vitamins and minerals. ‘Given the concerns about the national diet, Regal Salmon is one of the best nutritional foods available and Kiwis are realising this more and more’.

Distribution has improved dramatically during the year, with more air carriage within New Zealand to ensure its absolute consistent freshness. Thanks to a new arrangement with Air New Zealand, products available in Auckland usually arrive around only 24 hours after harvest in the Marlborough Sounds.

‘We have continued to focus on new product development, assured food safety, consistent quality and harvest out-turn while increasing our promotion of the Regal range as a versatile yet economical tasty treat,” says Mr Steere.

Exports too have had a record year, despite the high Kiwi dollar confounding logic. With strong demand we have been able to advance our added value strategy for the 50 per cent of our production that we export, and we enjoy premium price positions in the discerning markets of Japan and the US.

The company’s biggest growth however has been in Australia, spearheaded by the Sydney office which saw 60 per cent growth in 2006. That included good demand for portion-control product for frozen meal solutions by top Australian brands. Growth is targeted to continue and the company is due to open a distribution centre in Sydney next month.

An interesting recent development has been demand from Canada where the company has sold over $500,000 in the last five months. Despite a high freight component cost the Canadian returns have been higher than many other markets.

The year ahead is targeted at growth for Regal Salmon, with production planned to increase by 40 per cent progressively over the next three years. This requires the opening of a new site and also work on a new species.

They are also looking to expand added-value production capabilities in Nelson, some of which are reaching capacity.

Central business systems are being upgraded to the latest Java version and the company’s product development activity will benefit from the implementation of Accolade – the first independent New Zealand company to do so. Accolade software provides a discipline to the product development process based on the internationally renowned Stage-Gate approach and is designed to speed the process from concept to market while ensuring the commercial imperatives remain a focus.

‘After many years of challenge it is rewarding to confirm our integrated activities and our strategies are realising excellent results and this reflects great credit to every one of the team at New Zealand King Salmon’ says Mr Steere.

ENDS

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