SEA HARVEST GROUP LIMITED - Trading Statement

Release Date: 10/08/2018 08:30
Code(s): SHG
 
Wrap Text
Trading Statement

Sea Harvest Group Limited
(Formerly Sea Harvest Holdings Proprietary 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

In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE Limited (“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.

Sea Harvest is in the process of finalising its interim financial results for the six months ended 30 June
2018 which is scheduled to be released on or about 28 August 2018.

The Group’s headline earnings for the six months ended 30 June 2018 are expected to increase by
between 0% and 3%, to between R110.7 million and R114.0 million, compared to the headline earnings
of R110.7 million reported for the six months ended 30 June 2017, after absorbing transaction costs
relating to the Viking acquisition.

Shareholders are advised that the Company expects to report basic earnings per share (“EPS”) for the
six months ended 30 June 2018 of between 46 and 50 cents per share, representing a decrease of
between 31% and 25%, compared to the EPS of 67 cents per share reported for the six months ended
30 June 2017.

Basic headline earnings per share (“HEPS”) for the six months ended 30 June 2018 is expected to
decrease by between 20% and 13%, to between 45 and 49 cents per share, compared to the HEPS of
56.6 cents per share reported for the six months ended 30 June 2017.

The decrease in EPS and HEPS is mainly attributed to an increase in the weighted average number of
shares in issue (“WANOS”) due to the annualised effect of the shares issued at listing on 23 March
2017 being included in the WANOS calculation for only a portion of the period in 2017, compared to the
full period in 2018, as well as the non-recurrence of several one-off non-cash benefits in 2017 and
transaction costs relating to the Viking acquisition included in 2018. WANOS for the six months ended
30 June 2018 increased to 240,018,063, compared to a WANOS of 195,379,525 for the six months
ended 30 June 2017.

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


Cape Town
Friday, 10 August 2018

Sponsor
The Standard Bank of South Africa Limited

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