Diluted HEPS of 49.0cps (-35.5% y-y).
Revenue growth of 3.1% y-y to R3 303m.
GPM up 430bps from 24.3% to 28.6%.
OPM up 150bps from 7.9% to 9.4%.
Total expenses grew 13.6% y-y, with expense-to-sales up 190bps from 18.3% to 20.2%.
No dividend (1H23: nil).
Cash flow generated from operating activities fell 60.5% y-y from R178m to R71m.
With effect from 14 May 2024, the Group successfully concluded the acquisition of 100% of the issued shares and loan claims of certain of Terrasan’s subsidiaries engaged in the catching, processing and sale of pelagic fish (Sea Harvest Pelagic), as well as the acquisition of 63.07% of the issued shares and loan claims of certain of Terrasan’s subsidiaries engaged in the farming, processing and sale of abalone (Aqunion).
Performance at Sea Harvest Corporation continued to be affected by challenging fishing conditions resulting in 5% lower catch volumes, which was more than offset by improved pricing.
