11 Apr 2011

Reason for jump in share price not known by Sanford

11:06 am on 11 April 2011

Sanford says it does not know what's behind a 15% jump in its share price, but the whole seafood industry is benefitting from higher commodity prices and stronger exports.

NZX has asked the seafood company if it knoww why its shares rose from $4.90 in mid March to $5.65 on Friday.

Sanford says there has been some renewed interest in its shares recently, but it's not aware of any factors to explain the price rise.

However, the company says the seafood industry is being affected by increases in commodity prices worldwide, and publicly-released export price statistics show seafood prices have risen in the last year.

Shares in Sanford were down 4 cents to $5.60 at 10:48am on Monday.