COMPANIES: Sea Harvest takes another bite out of Viking Aquaculture

Sea Harvest has now acquired a further 28% shares and loan claims in Viking Aquaculture, which owns the Tuna Marine, Luderitz Mariculture, the Buffelsjag abalone farm, West Coast Oyster Growers and other aquaculture operations, for about R210-million, from minority shareholders Viking Fishing Group Administration Proprietary Limited and Odin Investments Proprietary Limited , which hold an 18% and a 10% interest in Viking Aquaculture respectively.

On Tuesday, Sea Harvest revealed it had a challenging year to 31 December 2022. The Brimstone subsidiary lost 10% in volumes from the fishing rights allocation process and a reduction in the total allowable catch, although revenue was well up in all segments, with firm demand in all its markets and strong pricing.

The aquaculture segment benefited from increased sales volumes and firmer pricing, with revenue increasing by 29% to R118-million, despite continued lockdown restrictions in China and Hong Kong and the curtailment of international travel for most of 2022.

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