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SEA HARVEST GROUP LIMITED - Trading Statement

Release Date: 05/08/2019 14:30
Code(s): SHG     PDF:  
Wrap Text
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 Company” or “the Group”)


Trading statement

Sea Harvest is in the process of finalising its financial results for the six months ended 30 June 2019,
which are expected to be released on the Stock Exchange News Service of the JSE Limited (“JSE”) on
or about Monday, 2 September 2019.

In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE, companies are required
to publish a trading statement as soon as they are reasonably certain that the financial results for the
current period will differ by at least 20% from those of the prior comparative period.

The Group’s financial performance for the six months ended 30 June 2019 has improved, with headline
earnings for the period expected to increase by between 48% and 59%, to between R165 million and
R177 million, compared to headline earnings of R111 million reported for the six months ended 30 June
2018.

Accordingly, shareholders are advised that the Group expects to report basic earnings per share
(“EPS”) and basic headline earnings per share (“HEPS”) for the six months ended 30 June 2019 of
between 60 and 64 cents per share. This represents an increase of between 26% and 34%, compared
to the EPS of 47.7 cents per share and between 29% and 38%, compared to the HEPS of 46.4 cents
per share, reported for the six months ended 30 June 2018.

Shareholders are further advised that the weighted average number of shares (“WANOS”) in issue for
the six months ended 30 June 2019 increased to 277 023 122, compared to a WANOS of 240 018 063
for the six months ended 30 June 2018. An additional 19 230 769 shares were issued on 2 July 2018
as part of the Viking purchase consideration and 21 428 571 were issued on 7 January 2019, in the
form of a vendor consideration placement in connection with the Ladismith Cheese acquisition.

The financial information on which this trading statement has been based has neither been reviewed
nor reported on by the Company’s external auditors.


Cape Town
Monday, 05 August 2019

Sponsor
The Standard Bank of South Africa Limited

Date: 05/08/2019 02:30:00
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