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Oceana profits rise

This article was originally published in Foodnews

OCEANA Group’s operating profits are up 6%. Sales of canned fish and mackerel were particularly profitable, but poor performance on the part of fishmeal curbed growth. Revenue also declined at most of the division’s facilities as a result of lower occupancy levels and throughput volumes of frozen product. Oceana’s landings of anchovy were 43% lower than the prior year at 21 444 tons. Optimisation of the supplyne chain improved year-round material availability and also saw the use of more local produce. The upward trend of the company’s growth may be slowing down as the firm’s share values grow by a smaller percentage each year.

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