Sea Harvest hit by higher operating costs
Fuel and load-shedding are main drivers as company has to contend with rise in debt costs
04 September 2023 - 20:29
Sea Harvest, which produces hake and cheese locally, battled to recover operating costs that surged 20% in the six months to end-June, as load-shedding and high spend fuel hit it hard — another example of the pressures facing food producers in the prevailing climate.
The company also had to contend with a rise in debt costs which nearly doubled to R87m due to a 47% rise in interest rates in Australia and SA, where it owns fishing businesses...
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