Fishing and food processing company, Oceana, has reported a 28.9% increase in net profit due to the success of its Lucky Star tinned fish range and its international subsidiary, Daybrook Fisheries. Lucky Star has experienced a surge in sales as consumers opt for more affordable protein sources. Oceana's annual results also showed a rise in earnings driven by Daybrook's strong performance and increased sales of Lucky Star. The company's canning production volumes and inventory levels have also seen significant growth.
Fishing and food processing company, Oceana has seen a 28.9% jump in net profit , thanks largely to its popular Lucky Star range of tinned fish and record performance from its international subsidiary, Daybrook Fisheries . Daybrook produces fishmeal and fish oil, sold primarily to the US pet food and global animal and aquaculture markets. Lucky Star has seen a surge in sales this year, in a constrained environment, as consumers switch to more affordable forms of protein.
Oceana released its annual results on Monday for the year ended 30 September 2023, which revealed a 28.9% rise in headline earnings, to R980-million, largely driven by strong performances from Daybrook, which raised operating profit in dollar terms by 30%, and Lucky Star, which grew sales by 9%. Another element in Lucky Star’s favour: Rolling blackouts, because customers are increasingly drawn to shelf-stable products like tinned fish because they are a safe and convenient protein. Local canning production volumes were up by 13.1% to 5.2 million cartons. Inventory levels were 18.7% higher than the previous year
Oceana Net Profit Lucky Star Tinned Fish Daybrook Fisheries Sales Protein Annual Results Earnings Canning Production Inventory Levels
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
African star GIVES AWAY R13k sneakers to lucky fans!African star GIVES AWAY R13k sneakers to lucky fans!
Read more »
Ex-Liverpool star: I'd take Everton star over NunezEx-Liverpool star: I'd take Everton star over Nunez
Read more »
‘Outlaws’ star Lehlohonolo Mayeza on being homeless and becoming a TV starActor Lehlohonolo Mayeza, originally from Lesotho, said scoring a role on Showmax’s series changed his life for the better.
Read more »
‘I was lucky my arm wasn’t amputated’‘I was lucky my arm wasn’t amputated’
Read more »
'Pirates Got Lucky Against Sundowns''Pirates Got Lucky Against Sundowns'
Read more »
Feeling lucky: PowerBall jackpot hits whopping R118 millionITHUBA, the operators of the National Lottery in South Africa, have confirmed a PowerBall jackpot that has skyrocketed to R118 million!
Read more »