The fishing group expects headline earnings to rise after a strong performance from its fishing operation and new acquisitions
The refurbished Harvest African Peace, a trawler for fisheries company Sea Harvest. Picture: THE TIMES/HALDEN KROG
Fishing group Sea Harvest says its full-year earnings to end-December could rise by more than a half after strong performance by its core fishing operations and new acquisitions. Headline earnings are expected to rise by 42%-52% from R278m previously, with the company reporting a “pleasing result” fromThe group said at the time that it was seeking to diversify earnings and benefit from growing consumers in natural-fat products.
Basic headline earnings per share to end-December are expected to rise by 28%-37% from 111.5c previously, with the lower HEPS growth reflecting the issuance of new shares to fund its acquisitions.The R527m acquisition of Ladismith followed on the heels of Sea Harvest’s R885m acquisition of the Viking fishing Group and 50% of Viking Aquaculture, which was completed in July 2018.
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