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 10AM English South Africa Business News · Investing

Other recent episodes

Pivot Point: Shaping Africa’s Energy Future

Ndapwilapo Selma Shimutwikeni, Founder and CEO of RichAfrica Consulting, shares insights on transforming Africa’s natural resource potential into sustainable economic growth. We explore investment opportunities in oil and gas, the Orange Basin, Namibia’s energy policy, ESG strategies, and how African countries can better leverage natural resources for long-term development.
12 Mar 1PM 38 min

Standard Bank Group Posts Strong 2025 Results

Standard Bank Group has closed 2025 on a strong note, reporting headline earnings of R49.2 billion and a return on equity of 19.3%, hitting the top end of its ROE target range. CEO Simpiwe “Sim” Tshabalala joins us to unpack the drivers behind the bank’s performance, including growth in digital…
12 Mar 1PM 11 min

South Africa’s Mining Sector Off to a Strong Start

Stats SA reports a 4.6% rise in mining output and a 31.7% jump in mineral sales year-on-year for January. Mining analyst Peter Major breaks down which minerals are driving growth, whether gains are linked to prices or volumes, and what these trends mean for investors and the South African economy.
12 Mar 1PM 11 min

INSIDE YOUR POCKET: Retirement Under Pressure: Rising Debt Among Older South Africans

As South Africa’s population ages, more seniors are turning to credit to cover everyday expenses. Andrew Fulton, Director at Eighty20, explores the financial realities for “Humble Elders” and “Comfortable Retirees,” why defaults among seniors are rising, and what this means for families, policymakers, and the broader economy.
12 Mar 1PM 13 min

Sanlam Delivers Strong 2025 Results and Pan-African Expansion

South Africa’s leading financial services group, Sanlam, achieved record new business of R496 billion, with net client cash flows more than doubling. CFO Abigail Mukhuba discusses the group’s operational performance, Pan-African growth strategy, strategic acquisitions like Assupol and Shriram Finance, the launch of the ZARU stablecoin, and how the company…
12 Mar 1PM 11 min