Sanford is more upbeat about its outlook, after a high New Zealand dollar and court action took a toll on last year's profit.
The fishing company's full year profit fell 6.5% to $20.8 million in the year to the end of September compared with the same period a year ago. Revenue declined 1% to $460 million.
Sanford's Pacific Tuna operations had a troubled year as one vessel underwent upgrades and was prosecuted for illegally discharging polluted bilge water in American Samoa. And another underwent repairs after a fire.
The two incidents cost Sanford up to $9 million in lost time for both vessels and about $5 million in legal fees and expected fines.
Managing director Eric Barratt said the exchange rate has been a real challenge for the company.
The company has a currency hedging programme which is relatively successful.
"We made around $7 million contribution from our currency trading last year and we're quite well positioned to hedge against current levels of the dollar in the next year, but it's still a big challenge," he said
Mr Barratt said Sanford is relatively positive about the prospects for next year.
Shares in the company closed unchanged at $4.45 each on Wednesday.
