Dineo Faku dineo.faku@inl.co.za SEA HARVEST posted a 5 percent growth in revenue during the half-year to the end of June to R2.1 billion, up from R2bn a year earlier, on the back of strong performances from the South African fishing segment, the Cape Harvest Foods segment and its Australian operations.
Group chief executive Felix Ratheb said the performance was commendable considering the company faced headwinds in the form of a firmer rand, a 5 percent reduction in the total allowable catch (TAC), additional Covid-19-related costs and operating pressures in the aquaculture segment.
“However, we benefited from good fishing conditions, firm export and local retail markets, and a sound hedging strategy, delivering operating profit of R323 million for the period, 26 percent higher than the prior period, with the operating profit…