We determined how varying stocking density and food ration can influence the growth, mortality and biomass return of abalone raised in slab tanks. The abalone used were 2- year-old hybrids of Haliotis laevigata and Haliotis rubra. The experimental design involved replicate tanks and three levels of each factor (normal practice and ±20% density or food ration). Although increasing density from that typically used in farm practices reduced the growth rate by roughly 6%, biomass return increased by 15.5%, over the 9-month period. Increasing feed ration by 20% boosted biomass by significantly increasing abalone growth during the first 3 months by 4%, but was less effective as the animals grew. Growth, mortality and food conversion ratios were optimized in tanks with a low density and a low feed ration, but economic gains were dominated by the increased biomass return from tanks with a higher stocking density. It is thought that reduced dissolved oxygen and differing access to food contributed to the patterns observed.