Sea Harvest Reports Significant Earnings Growth As Hake Catches Improve
Sea Harvest Group benefited from improved catch rates, firm demand, better vessel utilisation, two new trawlers, price increases, and higher processed volumes and fish oil yields in the pelagic business in the six months to June 30.
The group, which derives 64% of revenue and 90% of earnings before interest, tax, depreciation, and amortisation (EBITDA) from its South African fishing business, increased headline earnings per share by 91% to 95 cents per share for the period.
“The last three years have been tough as catch rates were at the lower...
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