Clean Seas Tuna says it is ahead of its target for yellowtail kingfish production, with strong market demand also fuelling increased sales in the June quarter.

“The company has grown 1390 tonnes of hiramasa yellowtail kingfish in the financial 2014 year, compared to the prior year of 273 tonnes,” it said in a report to the Australian Securities Exchange today.

“As at 30 June, 2014, Clean Seas has 1308 tonnes of fish biomass in the water, compared to 478 tonnes at 30 June, 2013, an increase of 174 per cent over the year.”

Sales of the kingfish also increased, leading to growth in quarterly customer receipts to $3.3 million – more than 13 per cent up on the previous quarter.

Hiramasa yellowtail kingfish is marketed as a premium fish, with much of the product sold for sashimi.

“Market demand continues to be strong for hiramasa yellowtail kingfish, and as reported, the company has begun expanding our European sales network and re-entering the Asian region in anticipation of strong ongoing growth in hiramasa yellowtail kingfish production,” its report to the ASE said.

The company expects to be cashflow positive when sales reach the 1500 tonnes per annum target, which is predicted to be by early calendar year 2015.

Clean Seas expects to announce full-year results in the third week of August.