Operator
Thanks for standing by, and welcome to the New Zealand King Salmon Half Yr Outcomes Announcement.
[Operator Instructions]
I’d now like at hand the convention over to Mr. Carl Carrington, Chief Government Officer. Please go forward.
Carl Carrington
Chief Government Officer
Good morning, everybody. Welcome to the half yr outcomes for New Zealand King Salmon, we’ll get into the presentation now. Initially, simply the usual disclaimer, if everyone may learn that in their very own time to be accustomed to the disclaimer we’ve got there. Thanks. .
Presenting right now, myself, Ben Rodgers, our CFO; and Grant Lovell, our workforce of Agriculture be the workforce on the decision right now. Let’s get into the abstract of the outcomes.
So the primary half web revenue after tax end result was a lack of $20.8 million. This GAAP end result was predominantly impacted by noncash changes regarding a good worth write-down within the organic belongings of $22.5 million after tax. The motive force of the write-down pertains to the summer season biomass challenges the place we skilled barely elevated mortality, however extra impactful was the lowered biomass progress.
This had 2 impacts: the primary is the discount within the truthful worth of organic belongings; and the second flows from the choice to scale back harvest volumes from April by to October to be able to rebuild the biomass.
The professional forma EBITDA, which is the metric which administration prefers to place extra emphasis upon displays the underlying earnings and was a revenue of $5.7 million in contrast with $13.5 million within the prior yr interval. This quantity was predominantly impacted by
