Lower sales and production volumes in prime Oceana segment
However, sales of Oceana’s popular Lucky Star brand continue to grow
18 September 2023 - 10:23
Oceana reported lower sales and production volumes in its largest segment by revenue because of greater costs and the weaker rand, despite seeing greater canned sales of its Lucky Star brand.
SA’s largest fishing company, valued at about R10bn on the JSE, said in a voluntary trading update for the 11 months to August 27 that higher selling prices and lower freight costs could not cover the above-inflation increases in energy, tin can and tomato paste costs, and the effect of the weaker rand against the dollar on the cost of imported raw material in its Africa canned fish and fishmeal segment...
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