South Australia oyster producer Angel Seafood posted a 36 per cent increase in revenues in the fourth quarter of 2020 compared to the same period in 2019, the company said in a release dated January 20.
An estimated 2.4 million oysters were sold by the company in Q4 2020, and additional stock is still available for sale in Q1 2021.
Angel added that, during H2 2020, it sold an estimated 5.1 million oysters, which it claims is its highest ever six-month sales volume.
Angel achieved a quarterly revenue result of $1.8 million, up 35 per cent from Q4 2019, with underlying oyster prices remaining steady during the quarter. Cash receipts from customers in Q4 2020 were $1.6 million, up 11.7 per cent from Q4 2019.
As of December 31, 2020, Angel had 29 million graded oysters on hand with a biomass of 264 tonnes, a 57 per cent increase compared to Q4 2019. Coffin Bay and Cowell leases are near capacity with the overflow of oysters warehoused at the Haslam facility.
Farming operations are now focused on grading oysters and monitoring the condition of the oysters during spawning season. Angel is also busy ensuring flipfarming and "summer oysters" trials progress as planned.
