Solid performance from Lucky Star brand contributes to a strong first half-year for the Oceana Group

Bruce Whitfield interviews Neville Brink, CEO at Oceana.

Listen to the interview in the audio below.

The fishing company, Oceana employs nearly 3,500 people.

It's got 46 vessels in its fleet, 5 factories fish and fish by-products like fish meal and fish oil. 

It also has 3 canneries where its most famous product of all, Lucky Star pilchards are tinned, not only for local consumption, but for global export as well. 

Oceana has high-end customers as well that buys its hake, lobster and other delicacies which are caught off the Namibian and South African coasts. 

But it was another strong performance from its U.S subsidiary, Daybrook which contributed to a strong first half for the Oceana Group.

Daybrook focuses on fish meal and fish oil production. 

Oceana posted a record performance, with profit after tax from continuing operations for the six months to March 2024 increasing by 74.2% to R716 million and headline earnings per share from continuing operations increased 84.6% to 578.8 cents.

"...because it's a commodity market and supply and demand, supply is very low and pricing has gone through the roof, and we were able to capitalise on that."

- Neville Brink, CEO - Oceana

"We had very good production last year. We carried healthy stocks of fish oil, and prices have gone through the roof."

- Neville Brink, CEO - Oceana

"...and we've got Lucky Star, which really is not a fishing company. Only 10% of the production that goes into the cans is from local production. 90% is imported from all over the world."

- Neville Brink, CEO - Oceana

"We have the ability to weather the storms...of versatility and unpredictability of fishing."

- Neville Brink, CEO - Oceana

Scroll up to the audio player to listen to the interview.