Sanford sees limited impact from new US tariffs

Auckland-based seafood company Sanford (NZX:SAN) has announced that new tariffs imposed by the United States are not expected to materially impact its FY25 performance. The tariffs, effective from 05 April 2025, affect products imported into the US. Sanford generated approximately NZD 117m from US sales in FY24, representing roughly 20% of its total revenue of NZD 583m. Managing Director David Mair stated the company has discussed the possible impact of the tariffs with its key US customers, noting the effect will depend on who bears the cost. Sanford does not currently foresee these tariffs significantly affecting its overall performance in the current fiscal year.