RNS Number : 4034E
Ocean Harvest Technology Group PLC
10 April 2025
 

10 April 2025

 

Ocean Harvest Technology Group plc

 

("OHT", the "Company", or the "Group")

Strong growth in Q1 and minimal US Tariff Exposure

 

 

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry, gives an update for the first quarter of 2025.

The Company is pleased to announce continued progress since the Trading Update on 27 January 2025 with Q1 revenues expected to be +65% year-on-year and ahead of Q4 2024. Positive momentum is a result of existing large OceanFeed blend customers returning to normal order patterns and the addition of new OceanFeed and single seaweed customers.

As part of the sales and marketing strategy launched in H2 2024, the Company is currently registering OceanFeed products in 10 new markets across Latin America and the Middle East to support ongoing geographic expansion.

Regarding the recent import tariff measures announced by the United States, effective 9 April 2025, the Company confirms that the U.S. market is expected to account for less than 2% of the Group's forecasted revenue for the year. As such, the financial impact of these tariffs is anticipated to be minimal.

The Company looks forward to announce further progress with the full year 2024 results by early June.

 

 

For more information please contact:

Ocean Harvest Technology Group plc

Tel: +44 (0) 1737 735018

 

Ashley Head, Executive Chairman

Chris Scott, CFO

 

 

 

 

Cavendish Capital Markets Ltd (Nominated Adviser and Sole Broker)

Tel: +44 020 7220 0500

Geoff Nash / Seamus Fricker / Trisyia Jamaludin (Corporate Finance)

Tim Redfern / Harriet Ward (ECM)

 

 

 

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and commercialisation of value adding proprietary products from blending multiple species of seaweed. The Company provides a range of natural additives focused on improving animal performance and the sustainability of the feed chain, through its unique and proven proprietary seaweed blends. The Company sources its seaweed globally, utilising sustainable and socially responsible harvesting of largely wild blooming seaweed species.  Its products are produced in its facility in Vietnam and sold into the $40bn animal feed additive sector in multiple markets across the world.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTEAXLNEEXSEFA