South African fishing giant Oceana Group delivered flat key financials in its 2019 annual results, as canned fish, horse mackerel and hake demand balanced losses in the company's fishmeal and fish oil segments.
The group posted earnings of ZAR 636 million (€38.8 million/$43.2 million) for the 12 months to Sept. 30, a 4 percent year-on-year increase, while revenues stood still at ZAR 7.6 billion (€463.6 million/$516.8 million) for the group.
Revenue from Oceana's African operations increased by 1 percent, underpinned by volume growth of 8 percent in canned fish and an 8 percent increase in horse mackerel and hake pricing.
