Lucky Star Lifts Oceana Results Amid Fish Oil Price PlungeSouth African fishing powerhouse

Oceana Group has shown remarkable resilience in its latest financial results, weathering a sharp decline in global fish oil prices that slashed headline earnings per share by 38%. Despite revenue dipping 1% to R10 billion and operating profit falling 23%, standout performances from the Lucky Star Foods segment and a significant turnaround in Wild Caught Seafood have kept the company steady. As consumers turn to affordable protein options amid economic pressures, Lucky Star’s sales surge has proven a key stabiliser, while hake exports thrive on strong European demand.

The results for the year ended 30 September 2025, released on 24 November 2025, highlight Oceana’s diversified model as a buffer against market volatility. With production efficiencies, fleet upgrades, and better fish landings driving volume growth, the group remains optimistic about future prospects. This performance not only underscores the strength of Africa’s largest fishing company but also its role in providing essential nutrition to millions across the continent.

Navigating Tough Waters: Key Financial Highlights

Oceana’s audited results reveal a mixed picture shaped by external challenges. Headline earnings per share dropped 38% due to plummeting fish oil prices, which halved from record highs in the previous year. Revenue edged down 1% to R10 billion, reflecting softer pricing in some segments, while operating profit declined 23%. However, these figures mask underlying strengths, with the company delivering solid volume growth across its operations.

The fishmeal and fish oil businesses in South Africa and Namibia faced headwinds from lower prices, but Lucky Star Foods shone brightly with robust sales. The wild-caught seafood segment saw a striking turnaround, benefiting from higher hake catches and firm demand in Europe. Overall, the African operations performed strongly, offsetting global price pressures and demonstrating the value of Oceana’s integrated approach.

CEO Neville Brink commented on the results, noting the company’s ability to adapt: “Despite the challenging environment, our focus on operational excellence and diversification has paid off. We’re proud of the team’s efforts in boosting volumes and efficiencies, which position us well for sustainable growth.”

Lucky Star’s Stellar Contribution

At the heart of Oceana’s resilience is the iconic Lucky Star brand, which commands roughly 60% of South Africa’s canned pilchard market. In 2025, Lucky Star sold an impressive 9.5 million cartons—equating to over 26,000 cartons every single day—feeding millions with affordable, nutritious protein.
Sales rose as budget-conscious consumers sought value amid rising living costs. The brand’s performance helped stabilise the group, with increased volumes driven by strong domestic demand. Lucky Star’s canned fish products, a staple in many South African households, provided a reliable revenue stream even as other segments struggled.

This success builds on Lucky Star’s long-standing reputation for quality and accessibility. As part of Oceana’s consumer foods division, it continues to innovate with new product lines while maintaining its core appeal as an everyday essential.

Turnaround in Wild Caught Seafood

The wild-caught seafood segment delivered a major boost, with higher hake catches and improved landings contributing to volume growth. Exports of hake benefited from solid demand in Europe, where sustainable sourcing and quality have kept prices firm.

Oceana’s investments in fleet upgrades and production efficiencies played a crucial role here. Modernised vessels and better processing techniques not only increased output but also reduced costs, helping offset the broader profit dip. This segment’s recovery is a testament to the company’s strategic focus on sustainable fishing practices, which align with global standards and support long-term resource management.

In Namibia and the United States—where Oceana operates through subsidiaries—the emphasis on wild-caught species like horse mackerel and Gulf menhaden added to the positive momentum, despite fish oil price volatility.

Operational Efficiencies and Strategic Investments

Oceana’s results were bolstered by ongoing improvements in operations. Fleet upgrades enhanced catch rates and safety, while better landings from sustainable quotas drove higher volumes. Production efficiencies, including streamlined processing and supply chain optimisations, helped mitigate the impact of lower prices.

The company also highlighted its commitment to sustainability, with initiatives to reduce environmental impact and ensure responsible sourcing. These efforts not only comply with international regulations but also appeal to eco-conscious markets, supporting export growth.

Financially, Oceana declared a cash dividend, reflecting confidence in its cash flow despite the challenges. The group’s diversified portfolio—spanning consumer foods, wild-caught seafood, and fishmeal/oil—proves its strength in navigating economic turbulence.

A Legacy of Over a Century: Oceana’s Background

Founded over 105 years ago, Oceana Group is Africa’s largest fishing company, with a rich history rooted in South Africa’s coastal communities. It operates in South Africa, Namibia, and the United States, employing more than 5,000 people and contributing significantly to local economies.

The company’s portfolio includes household names like Lucky Star, which has become synonymous with affordable nutrition. Oceana’s presence on the JSE, with a market capitalisation reflecting investor trust, underscores its status as a key player in the agribusiness sector.

Beyond fishing, Oceana engages in community development, supporting education and health initiatives in areas where it operates. This social responsibility aligns with its revolutionary roots and commitment to serving the people.

🔴Central News Weekly Edition | Issue 119 Download the Latest Print and E-Edition | Jacob Zuma Welcomes TonyYengeni to MK Party as Second Deputy President in Major Leadership Shake-Up🔴

Download Here:

Direct PDF File Here:

https://centralnews.co.za/wp-content/uploads/2025/07/Central-News-Issue-114-1.pdf

Read all our publications on magzter:

https://www.magzter.com/ZA/Central-News-Pty-Ltd/Central-News/Newspaper/All-Issues

Central News also offers Sponsored Editorial Content,  Podcasts , Radio / Social Media Simulcast, Video Production , Live Streaming Services, Press Conferences, and Paid Interviews (Video/Audio) etc.

We guarantee exceptional exposure, reach, and engagement, with an excellent return on investment.

Advertisement:

To place your advert on our platforms (Print Newspaper or Digital Platforms) : Please email : sales@centralnews.co.za

For Business Related:
business@centralnews.co.za

Newsroom:
Send your Stories / Media Statements To: newsroom@centralnews.co.za

General Info: info@centralnews.co.za

Office Administrator:
admin@centralnews.co.za

Whatsapp / Call: 081 495 5487

Website: https://www.centralnews.co.za

Social Media Platforms (@centralnewsza) : Linkedin, Facebook, Tiktok, Twitter, Instagram, Youtube