All in Agriculture

Mareterram Limited - Mareterram Operations Update

Mareterram Limited (ASX: MTM) has wrapped up operations in the MSC Certified Shark Bay Managed Fishery for the 2017 fishing season with a prawn catch volume of 830mt, up from 760mt achieved last year. All 10 of The Company's trawlers had returned to port by today. Scallop catch volume for the season to-date came in at 39mt, up from 27mt achieved in the 2016 fishing season. By-catch volumes for 2017 are expected to come in-line with last season's results.

Mareterram - Delivers 189% Jump in NPAT to $4.6 million

Mareterram Limited (ASX: MTM) has reported a 189% jump in Net Profit After Tax to $4.6 million for the full year ended 30 June 2017. The vertically integrated agribusiness also recorded a 225% increase in EBITDA to $6 million while revenue increased by 201% to $49 million. The results reflect Mareterram's first full financial year of operations as a diversified agribusiness operating a fleet of prawn trawlers in the Shark Bay Managed Fishery and a sales and marketing division. 

Mareterram Records $3.4 Million Net Profit After Tax

Mareterram Limited (ASX: MTM) has reported a Net Profit After Tax of $3.4m for the half year ended 31 December 2016, a 272% increase on the $1.98m loss recorded in H1 2016. The result was achieved on the back of revenue of $26.6m representing the first period of the prawn harvest under Mareterram's management. Management is currently planning for the next fishing season, which opens on March 16.

Mareterram Limited - Year End Results Announcement

Mareterram Limited (ASX: MTM) has announced that its NPAT of -$1.7m was in line or slightly better than the Prospectus forecast of -2.97m, largely as a result of assumed timing differences with the acquisition date of the Food Services Division. The results was also impacted by transaction costs associated with the proportional takeover by Sea Harvest.

Mareterram Limited - Sea Harvest lodges Bidder's Statement

Mareterram Limited (ASX: MTM) has announced that it has received the Bidders Statement from major shareholder Sea Harvest Holdings Proprietary Limited (Sea Harvest) in relation to the conditional proportional off-market cash offer to acquire 1 out of every 2 shares held by Mareterram shareholders (other than Sea Harvest and its related entities) for $0.35 cash per share. The Offer is supported by all Mareterram directors.