Lucky Star owner Oceana reports profit increase for its full year

Loading player...
Neville Brink - Chief Executive Officer talks about JSE-listed global fishing Company Oceana says a spike in consumer demand for more pocket-friendly protein has supported the 17% increase in headline earnings per share (Heps) from continuing operations to 626 cents, up from 536.2 cents in 2021.

In a Sens release on Monday – reporting on the group’s 2022 performance for the period ended 30 September – Oceana said that as food prices continue to rise, it expects the demand for such proteins to continue supporting the company’s recovery.

Oceana owns various tinned fish products such as canned pilchards and canned tuna, among others, selling them mainly under the Lucky Star brand.

“Consumer demand for affordable protein and the relative value that Lucky Star provides compared to competing proteins ensured a strong recovery in sales in the second half, after stock constraints hampered the first-half performance,” the group said.

“Sales volumes in the second half increased by 8%, notwithstanding an effective 8% price increase.”

“Fish, particularly canned fish, is an affordable, healthy source of protein for many South African families as the Kasi Brands survey confirmed when it found Lucky Star tinned fish to be the top township brand. The demand was always there, and the second-half sales volumes improved when we were able to replenish our stocks,” CEO Neville Brink said in a statement.

“This as well as global demand for fishmeal and fish oil and the Daybrook performance contributed to a set of results we’re very pleased with, particularly given the constrained global and local economies,” Brink added.
6 Dec 2022 1PM English South Africa Business News · Investing

Other recent episodes

Building a Future‑Ready Mining & Energy Company: Mantengu’s Next Chapter

Mantengu CEO Magen Naidoo shares how he is steering the company into a new era — blending mining and energy strategy, people‑centred leadership, fiscal discipline and operational transformation. With 24 years of experience, including 17 at Deloitte, Naidoo discusses culture, capability building, risk management and what it takes to build…
28 Jul 1PM 16 min

AI, 4IR & Mining’s Future: Human‑Centred Innovation for Africa

RIIS energy and sustainability expert Sylvesters Okello unpacks PwC’s Ten Insights into 4IR in South African Mining. We explore CEO‑driven AI adoption, the sector’s poor data maturity, the massive digital skills gap, and why mining must embrace human‑centred technology. A powerful conversation on how AI can enhance safety, productivity and…
28 Jul 1PM 14 min

Kumba Iron Ore’s H1 Profit down 41% on Global Headwinds

Kumba Iron Ore delivered R10.9bn EBITDA despite a challenging external environment, rising unit costs and softer production. CEO Mpumi Zikalala discusses maintaining a 35% margin, navigating logistics constraints, declaring a R7.90 interim dividend, and driving sustainability — from fatality‑free operations to renewable energy integration. A deep dive into leadership, cost…
28 Jul 1PM 14 min

Mining Momentum Falters: Fuel Costs, Conflict & Commodity Pressures

South Africa’s mining sector hit its first production contraction in five months, with May down 4.5% year‑on‑year. Minerals Council Economist André Lourens breaks down the drivers behind the slowdown — from Middle East tensions disrupting global oil flows to fading commodity price support. We unpack manganese and chrome’s surprising resilience,…
28 Jul 12PM 17 min

Family Business to National Player: Anton Gillis on SA’s Hospitality Future

Platinum Hospitality Holdings is set to announce Anton Gillis as its new CEO — marking a major succession moment for one of SA’s leading family‑built hotel groups. Anton shares what the group is seeing on the ground across its national portfolio, where hospitality demand is growing, how operators are navigating…
27 Jul 1PM 15 min