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Mon 16 Jun 2025
Close: 5 604c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Revenue for the interim period grew to R5.2 billion (2024: R5.0 billion) whilst operating profit decreased to R676.0 million (2024: R1.0 billion). Profit for the period attributable to shareholders of Oceana Group Ltd. dropped to R386.0 million (2024: R706 million). In addition, headline earnings per share were reported lower at 324.9 cps (2024: 578.8 cps).
Dividend
The Group declared an interim dividend of 110 cents (2024: 195 cents) per share.
Company outlook
The operating environment for the Fishmeal and fish oil segments is expected to become more challenging amid softer global prices, compounded by the recent Peruvian anchovy first season TAC announcement of 3.0 million tons (March 2024: 2.5 million tons) and strong catches to date.
The US gulf menhaden fishing season started mid-April and will run for 28 weeks to the end of October. Early season landings at the end of week 6 are on par with the last season. Daybrook continues to monitor the evolving global tariff landscape. In response to the uncertainty around US-China tariffs, Daybrook is focusing on domestic petfood sales and exploring alternative market opportunities for fishmeal.
The FMO SA business will continue to focus on driving production efficiencies and product quality, but an anticipated anchovy TAC reduction due to a cyclically low biomass will temper results.
Lucky Star foods aim to sustain volume growth by leveraging its affordability and availability strategy, while expanding its brand and product range in the broader food sector and into new geographies. The strong inventory position will continue to support our ability to meet demand in the second half. Fishing operations and cost recoveries will be negatively impacted by the delay in the announcement of the final pilchard TAC.
The Wild caught seafood segment will continue to optimise vessel utilisation to leverage firm market demand.
The Group continues to prioritise reducing debt, along with the prudent management of costs and capital expenditure. The anticipated unwind of Lucky Star inventory levels in the second half will support a decrease in short-term borrowings.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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