Fish farmer Clean Seas Tuna says it is on track to become profitable in the 2015 financial year as its kingfish production improves to its best level for years.

The company said in an investor update on Tuesday that improvements in fish husbandry were delivering outstanding results and its kingfish population had not been affected by any feed or disease issue in the autumn, winter and spring of 2013.

“Kingfish survival, health and growth rates are the best in many years, if not ever,” the company said in a presentation lodged with the Australian Securities Exchange.

“(The) financial performance of Clean Seas is on track to deliver profitability in the 2015 financial year.”

Clean Seas has started to transfer 600,000 fingerlings to sea pens – up from 200,000 in 2012.

The first batch of 200,000 is being transferred one month earlier than previously and is twice the weight at transfer to sea.

Current season fingerlings going to sea will be ready for harvest in February 2015.

Clean Seas is focusing on the production of Yellowtail Kingfish, which has a strong market and positive price trends.

The company’s tuna program remains on hold until the company regains financial strength.

Clean Seas booked an annual loss of $34.5 million in the 2012/13 financial year.

It intends to lift kingfish production from 500 tonnes to 3,000 tonnes per year over five years.

The company has put its tuna propagation program on hold but has kept its mature southern bluefin tuna broodstock on the Eyre Peninsula in South Australia because they would take eight years to replace.

“Clean Seas will consider a return to southern bluefin tuna propagation once it is generating sufficient financial returns to support the program,” the company said.

Shares in Clean Seas gained 0.4 cents to 3.6 cents.