South African fishing companies net impressive profits

All four major South African fishing companies based in the Western Cape reported impressive profits in the first half of the year, reports Cape Business News.

Oceana reported a 76 percent growth in operating profits to ZAR 269 million (€15.7 million/$17.8 million) in the half year to end March.

The top-line was skewed with the recent acquisition of US-based fish oil and fish meal specialist Daybrook Fisheries, which pushed revenue up 40 percent to ZAR 3.6 billion (€209.5 million/$238 million).

Gross profits were up 38 percent to ZAR 1.34