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Oceana Group (ISIN ZAE000025284) has announced an increase in operating profit for the eleven-month period ending August 31, 2026, even as total group revenue remained flat compared to the previous year. According to the latest update from Sharedata released on September 21, 2026, the company is preparing for the release of its audited full-year results on November 26, 2026.
Despite the positive headline figures, the report reveals a significant divergence between different business segments. The Lucky Star brand faced severe headwinds due to frozen fish shortages, resulting in a 9 percent decline in canned fish volumes. Overall sales volumes dropped by 5 percent, while local canning production saw a staggering 60 percent decline. This shortage has placed substantial pressure on South African operations. However, the group managed to protect operating margins through higher realized sales values, reduced freight and inventory costs, an improved product mix, and a higher proportion of locally caught pilchards.
The most significant challenge occurred within the African fishmeal and fish oil division, where production and sales volumes plunged by 73 percent and 72 percent, respectively. While average Rand-denominated prices for these commodities rose by 31 percent, this was insufficient to counteract the impact of the drastically reduced production base.
Conversely, the US-based fishmeal and fish oil operations served as a critical counterweight. Sales volumes in the United States increased by 16 percent, supported by a 24 percent rise in average fish oil prices. The Wild Caught Seafood division also saw growth, with horse mackerel sales rising by 8 percent, although the squid business continued to report an operating loss. With the fishing season concluding at the end of October 2026, investors are looking forward to the comprehensive year-end report due in late November.
Source: ad-hoc-news.de