Barramundi Group Ltd. (OB:BARRA) announced that as communicated in earlier releases, the company is in a process to find a strategic partner in Australia. Following discussions with various potential investors, Barramundi Group has now decided to also consider a complete divestment of the business. In April 2022 Barramundi Group applied for 13 new licenses to grow the operations from its current volume of approximately 1,600 tonnes of yearly harvest volume into a long-term volume of 30,000 tonnes per year.

This growth will require funding of a scale that cannot be borne by Barramundi Group alone. As the half yearly report released 30 August 2022 shows, the Australian business is currently not profitable. Management is actively working on pricing adjustments and cost saving measures which are expected to result in improved margins that will bring the business closer to profitability.

An update on the progress on this project will be given no later than in the third quarter business and financial update, scheduled for 29 November 2022.