Sea Harvest delivers profit despite Covid-19
The fishing group proved to be resilient in the face of worldwide pandemic with modest 1% profit rise to R397.85m
Sea Harvest Group, the deep-sea fishing and aquaculture group, delivered a modest profit increase in its 2020 fiscal year, proving its resilience in the face of the Covid-19 pandemic, which disrupted global supply chains and curbed access to the lucrative Far East market.
The Cape Town-based company said profit for the year to end-December 2020 rose 1% from the previous year to R397.85m while headline earnings climbed 3% to R420.9m, according to a Monday stock exchange filing. Revenue rose 10% to R4.38bn in the fiscal year thanks to solid performances from Sea Harvest’s SA fishing business, its Cape Harvest food unit as well as the group’s Australian operations...