CEO Felix Ratheb says the financial year under review ‘was one of the most challenging’ for the company
Higher costs hammered Sea Harvest despite the fishing group reporting higher revenue in its latest annual results, compounded by supply-chain disruptions and load-shedding.
The company, valued at R3bn on the JSE, saw a jump in revenue of more than one quarter year on year to R5.88bn undercut by cost inflation as the cost of sales soared 42.2% to R4.54bn, partly because of a R257m rise in the fuel price, power cuts costing the company R20m in the last four months of its 2022 and export freight rates increasing by 34% in the year to end-December...
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