Sea Harvest Group Limited has announced that it expects headline earnings per share (HEPS) for the year ended 31 December 2025 to be between 216 cents and 222 cents. This represents a 300% increase compared to the previous period, marking the highest HEPS since the company was listed in 2017.
The company attributes this improvement mainly to higher catch rates, better pricing, and efficiency gains in its hake business. The pelagic segment also performed well due to similar efficiency improvements. In addition, increased milk production in the dairy business and strict cost control measures across the group contributed to these record results.
However, earnings per share (EPS) were affected by impairments in Sea Harvest’s Australian operations, which faced environmental challenges in Shark Bay. The aquaculture division continued to experience difficulties due to weak consumer demand in Hong Kong and China.
Sea Harvest highlighted progress on its new strategic direction, including the proposed sale of Ladismith Cheese. The proceeds from this transaction are intended to help reduce debt within the group. According to a previous announcement, Ladismith Cheese has been classified as held for sale and is now presented as a discontinued operation in Sea Harvest’s financial statements for the year ended 31 December 2025.
The company stated: “The significant improvement in performance was primarily attributable to higher catch rates, significantly improved pricing and efficiency gains in its hake business while its pelagic business also delivered strong results benefitting from efficiency gains. Increased milk flow in its dairy business and a keen focus on cost control across the Group contributed to the record results.”
Sea Harvest is finalising its financial results for release on or about Tuesday, 3 March 2026 via the Stock Exchange News Service (SENS) of JSE Limited.
Shareholders were previously informed that there was reasonable certainty that HEPS would be more than 200% higher than last year’s figure. Now with detailed figures available, both continuing and discontinued operations have been included for comparative purposes under relevant accounting standards.
The group noted: “The result on an earnings per share (“EPS”) basis was tempered by impairments in the Australian business, which faced environmental headwinds in Shark Bay, and in its Aquaculture business, which continues to be impacted by depressed consumer demand in Hong Kong and China.”
Sea Harvest continues efforts toward operational improvements while addressing challenges within some segments of its portfolio.