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Further Trading Statement
Sea Harvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2008/001066/06)
Share code: SHG ISIN: ZAE000240198
("Sea Harvest" or "the Group")
FURTHER TRADING STATEMENT
Sea Harvest is currently finalising its financial results for the year ended 31 December 2025, which are
expected to be released on the Stock Exchange News Service ("SENS") of the JSE Limited ("JSE") on
or about Tuesday, 3 March 2026.
Shareholders are referred to the trading statement published on SENS on Tuesday, 25 November 2025
in terms of which shareholders were advised that the Group was satisfied that a reasonable degree of
certainty existed that, for the financial year ending 31 December 2025, basic headline earnings per
share ("HEPS") from total operations would be more than 200% higher than the reported HEPS for the
prior comparative period.
Shareholders are further referred to the announcement published on SENS on Friday,
21 November 2025 in terms of which shareholders were advised of the Group's proposed disposal of
Ladismith Cheese. In accordance with IFRS 5: Non-current Assets Held for Sale and Discontinued
Operations, Ladismith Cheese has been classified as held for sale and presented as a discontinued
operation in the financial results for the year ended 31 December 2025. As a result, including for
comparative purposes, earnings per share ("EPS") and HEPS now reflect total, continuing and
discontinued operations.
The Group's results for the current year show a significant improvement compared to the prior
comparative period notwithstanding certain impairments, and is primarily attributable to:
• higher catch rates, significantly improved pricing and efficiency gains in the hake business;
• efficiency gains in the pelagic business;
• increased milk flow in the dairy business; and
• a keen focus on cost control across the Group.
In accordance with section 3.4(b) of the Listings Requirements of the JSE, shareholders are advised
that the Group expects to report for the financial year ended 31 December 2025:
31 Dec 2025 31 Dec 2024 Expected 31 Dec 2024
range of
Expected Restated increase Reported
results range (cents) based on (cents)
(cents) 31 Dec 2024
(Restated)
(%)
Basic HEPS – Group 216 - 222 55 293 - 303 55
Continuing Operations 192 - 196 36 434 – 444 N/A
Discontinued Operations 24 - 26 19 25 - 35 N/A
Basic EPS - Group 79 - 86 72 10 - 20 72
Continuing Operations 95 – 101 53 80 – 90 N/A
Discontinued Operations (16) – (14) 19 (185) – (175) N/A
The difference in HEPS and EPS is largely attributable to:
• the impairment of the Australian segment as a result of the 50% effort reduction in the Shark Bay
prawn fishery;
• the impairment of the Aquaculture segment as a result of the mothballing of the Kleinzee and
Whale Rock abalone farms and depressed consumer demand in China and Hong Kong; and
• the impairment of the Cape Harvest Food segment as a result of the proposed disposal of
Ladismith Cheese, with the assets' carrying value exceeding the estimated fair value less cost to
sell.
The financial information and any forward-looking statements in this announcement have not been
reviewed or reported on by the Group's auditors.
Cape Town
4 February 2026
Sponsor:
The Standard Bank of South Africa Limited
Date: 04-02-2026 11:00:00
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