SA’s biggest fish producer takes a hit.
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Guest: Neville Brink – CEO, Oceana Group
South Africa’s largest fishing and food-processing company, Oceana Group, has taken a knock posting a 35% plunge in full-year profit as global fish oil prices collapsed from last year’s record highs. CEO Neville Brink joins us to unpack the numbers behind the headline and explain how a halved dollar fish-oil price reshaped the group’s fortunes.
Despite revenue holding steady at around R10 billion, softer fishmeal and fish-oil pricing weighed heavily on earnings, dragging headline earnings per share down 38% and prompting a sharply lower dividend payout. Yet Oceana’s story isn’t one of decline but of resilience. Brink highlights a strong turnaround in Wild Caught Seafood, surging production across Lucky Star Foods, and improved volumes in both the African and US operations.
South Africa’s largest fishing and food-processing company, Oceana Group, has taken a knock posting a 35% plunge in full-year profit as global fish oil prices collapsed from last year’s record highs. CEO Neville Brink joins us to unpack the numbers behind the headline and explain how a halved dollar fish-oil price reshaped the group’s fortunes.
Despite revenue holding steady at around R10 billion, softer fishmeal and fish-oil pricing weighed heavily on earnings, dragging headline earnings per share down 38% and prompting a sharply lower dividend payout. Yet Oceana’s story isn’t one of decline but of resilience. Brink highlights a strong turnaround in Wild Caught Seafood, surging production across Lucky Star Foods, and improved volumes in both the African and US operations.
