Sanford expects better

Fishing company Sanford is expecting annual profit to rise up to 14 per cent, despite a flat first-half result.

"With the inclusion of contributions from asset sales, foreign exchange hedging gains and reasonable trading results in the second half of the year, it is expected that the final result will be about 12 per cent to 14 per cent ahead of the result for the 13-month period last year," the company said.

Sanford posted a net profit of $47.3 million last year and a flat first half profit of $23.7 million, as large foreign exchange gains helped to offset lower export sales.

Sanford, New Zealand's only publicly listed fishing company, will release its annual result after the market closes on November 25.