Ocean Harvest Technology Q1 revenues surge

(Sharecast News) - Seaweed products business Ocean Harvest Technology said on Thursday that Q1 revenues were expected to have grown 65% year-on-year and be ahead of Q424. Ocean Harvest said the positive momentum was the result of both existing large OceanFeed blend customers returning to normal order patterns and the addition of new OceanFeed and single seaweed customers.

The AIM-listed group also noted that it expects Donald Trump's recently implemented import tariffs to have a "minimal" impact on its performance, with the US market expected to account for less than 2% of forecasted revenues.

Ocean Harvest added that as part of its sales and marketing strategy launched in H224, it was now registering OceanFeed products in ten new markets across Latin America and the Middle East in an effort to support its ongoing geographic expansion.

As of 1115 BST, Ocean Harvest shares were up 5.48% at 6.06p.









Reporting by Iain Gilbert at Sharecast.com