Sea Harvest buoyant with 17% annual profit hike despite choppy economic seas
Sea Harvest sells to 26 countries around the world.
Every time we had a lockdown and a problem in one country...we were really trying to cherry-pick which markets we could still sell into.Felix Ratheb, Group CEO - Sea Harvest
He says retail remained strong.
As Italy had a problem, Spain was ok. As Spain had a problem, South Africa was ok.Felix Ratheb, Group CEO - Sea Harvest
Ratheb says the most important thing was to ensure employees were healthy and fishing continued.
Obviously, fishing at sea and having 85 people on a vessel, and you have an outbreak on a vessel, you will have a huge issue.Felix Ratheb, Group CEO - Sea Harvest
In the first wave, there were interruptions but once testing got underway it helped.
Our bigger headache was supply chain interruptions rather than the market side which was very firn. At the end of the day people need to eat.Felix Ratheb, Group CEO - Sea Harvest
He says shopping patterns just changed due to Covid-19 and lockdowns.
In-home consumption went through the roof but obviously going out with curfews and lockdowns was a problem.Felix Ratheb, Group CEO - Sea Harvest
The South African government deemed the industry essential early on which he says helped.
Listen to the interview in the audio below:
Source : https://previews.123rf.com/images/wollwerth/wollwerth1512/wollwerth151200023/50493600-deckhands-bring-a-net-full-of-fish-onto-the-deck-of-a-fishing-boat.jpg
Congratulations to this week's winner, Tanya Coats whose just won Vodacom's latest VodaPay Max POS system and R10,000 in cash.Read More
The collaboration has helped to build a Supply Chain Finance solution to support some of the biggest industrial businesses in SA.Read More
The Money Show’s Bruce Whitfield interviews personal finance expert Warren Ingram (Galileo Capital).Read More
"There’s a Constitutional obligation on the state to ensure that nobody goes hungry," says Lynette Maart (Black Sash).Read More
Tokyo Sexwale called a press briefing on Thursday. Incoming FSCA Commissioner Unathi Kamlana comments on The Money Show.Read More
Sticking to 'that's the way we've always done things' no longer serves businesses, says unlearning expert Zanele Njapha.Read More
The Money Show interviews Kamlana, who'll take over as Commissioner of the Financial Sector Conduct Authority in June.Read More
The Clicks Group's profits are up nearly 10% for the six months ended February. Bruce Whitfield interviews CEO Vikesh Ramsunder.Read More
The North-West University 's Prof. Jan van Romburgh explains the need for the index and how it would work.Read More
There's expected to be a surplus for the third year running. Rooibos Ltd's Martin Bergh explains the cycle on The Money Show.Read More