Sea Harvest flags it expects earnings to surge 300%

Sea Harvest published a trading statement on Wednesday advising shareholders that it expects to report, for the financial year ended 31 December 2025, headline earnings per share from total operations of between 216 cents and 222 cents, representing a 300% increase over the prior comparative period and its highest since listing in 2017.

Sea Harvest is a JSE-listed South African fishing and food company with a market capitalisation of roughly R3.4 billion 

Sea Harvest said the significant improvement in performance was primarily attributable to higher catch rates, significantly improved pricing and efficiency gains in its hake business while its pelagic business also delivered strong results benefitting from efficiency gains. Increased milk flow in its dairy business and a keen focus on cost control across the Group contributed to the record results.

The result on an earnings per share basis was tempered by impairments in the Australian business, which faced environmental headwinds in Shark Bay, and in its Aquaculture business, which continues to be impacted by depressed consumer demand in Hong Kong and China.

"The Group is pleased to see its new strategic direction taking shape, including the previously announced proposed disposal of Ladismith Cheese, with the proceeds earmarked to further reduce debt," Sea Harvest said.

BUSINESS REPORT