Sea Harvest earnings boosted by fishing and cheese
JOHANNESBURG – JSE-listed fishing company Sea Harvest Group is expecting to report double-digit growth in earnings for the year to end December, boosted by its fishing operations and Ladismith Cheese Company.
Its headline earnings could increase by between 42 and 52percent, to be between R395million and R422m, up from R278m compared to last year.
“The group’s financial performance for the year to end December has benefited from a strong performance of the South African fishing operation and a pleasing result from the Ladismith Cheese operation,” the group said in a statement yesterday.
Sea Harvest’s subsidiary Cape Harvest Food Group acquired the Western Cape-based Ladismith Cheese for R527m in 2018.
The acquisition of Ladismith Cheese was meant to provide Sea Harvest with an ideal platform to build on in the dairy sector through the development and acquisition of additional dairy and allied beverage products.
Source: iol.co.za
