Two white-meat producers have beefed up profits, with recently listed fishing group Sea Harvest and poultry producer Quantum issuing upbeat trading statements on Monday. The share price of Sea Harvest, controlled by empowerment company Brimstone, firmed markedly on Monday after the release of its trading statement for the year to December. The group said the maiden financials, due for release in early March, would show basic headline earnings coming in at 99c-113c a share, an increase of 74%-98% compared with the previous financial year. Sea Harvest attributed the improved performance to robust South African operations, which are mainly centred on the hake industry. The group noted strong market demand for Cape hake globally as well as a "significantly enhanced performance" from investments in processing plants at Saldanha Bay. The strong performance by Sea Harvest contrasts with the difficulties faced by market leader Oceana, which is much larger and more diversified. Although stil...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now