Sea Harvest reported FY 2025 results showing operating profit from total operations of ZAR 1.30 billion (+125%) on an operating profit margin of 15%, with headline earnings of ZAR 730.3 million (+320%) and basic HEPS of 219 cents (four-fold increase). From continuing operations, revenue was ZAR 6.64 billion (+20%), operating profit was ZAR 1.18 billion (+140%) at an 18% margin, EBIT was ZAR 812.3 million (+57%) after impairments of ZAR 351 million, profit after taxation was ZAR 303.9 million (+79%), and headline earnings were ZAR 648.9 million (+466%). Net debt fell to ZAR 2.25 billion and net debt to EBITDA improved to 1.3x. The group declared a final ordinary dividend of 76 cents per share for FY 2025. Operationally, Sea Harvest said performance was driven by higher hake catch rates, higher hake pricing, efficiency gains and cost control, while aquaculture faced weaker demand in Hong Kong and China and lower US dollar selling prices. Sea Harvest also announced a planned disposal of Ladismith Cheese for ZAR 840 million (adjusted for net cash/debt and working capital), with the business classified as held for sale and disclosed as a discontinued operation.

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