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| TIDM | OHT |
| Share Price | Loading... |
| Market Cap | Loading... |
| Date | 10 Apr 2025 |
| Time | 07:00:07 |
| Category | Trading updates |
| ID | 4034E |
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:
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Ocean Harvest Technology Group plc |
Tel: +44 (0) 1737 735018 |
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Ashley Head, Executive Chairman Chris Scott, CFO
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Cavendish Capital Markets Ltd (Nominated Adviser and Sole Broker) |
Tel: +44 020 7220 0500 |
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Geoff Nash / Seamus Fricker / Trisyia Jamaludin (Corporate Finance) Tim Redfern / Harriet Ward (ECM) |
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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.