Oceana reports higher operating profit and Oceana stock sits 15.10 percent below its high

Published on 10/02/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Oceana's fishmeal sales volume fell 72 percent in 11 months to August. Oceana stock costs EUR 3.41 on October 2, 2026 versus EUR 3.39.

Oceana, ZAE000025284, Illustration mit AI erstellt.

Oceana (ISIN ZAE000025284) reported higher operating profit for the 11 months ended August 31, 2026, while Oceana stock sat 15.10 percent below its 52-week high of ZAc 7,538 on October 2, 2026. The update from Sharenet was released on September 21, 2026.

Operating profit improves despite supply pressure

Group revenue was in line with the prior period, according to Sharenet, while stronger performances from Lucky Star Foods, the US fishmeal and fish-oil operation, and wild-caught seafood lifted operating profit. The comparison is important because the group achieved profit growth while its total sales volumes declined 5 percent during the same 11-month period.

The pressure was concentrated in Africa. Fishmeal and fish-oil production fell 73 percent, and sales volumes declined 72 percent as lower industrial fish landings and reduced pilchard trimmings restricted supply. Average fishmeal and fish-oil prices nevertheless increased 31 percent in Rand terms, which cushioned but did not eliminate the effect of lower volumes.

US operations provide a counterweight

Oceana's US fishmeal and fish-oil business delivered a stronger performance during the 11 months ended August 31, 2026. Sales volumes increased 16 percent, while average fish-oil prices rose 24 percent in the period, according to Moneyweb.

Wild-caught seafood also improved, with horse mackerel sales volumes up 8 percent and hake sales volumes up 5 percent for the period. Oceana said Gulf Menhaden landings were 7 percent above the comparable period in 2025 by week 21, although fish-oil yields were 10.70 percent.

Results date sets the next marker

Oceana expects to release results for the year ended September 30, 2026, on or about November 26, 2026, per Sharenet. The coming report will show whether stronger US pricing and wild-caught volumes can offset the African supply squeeze and the ongoing weakness in squid catches.

Oceana was trading at EUR 3.41 at Lang & Schwarz on October 2, 2026, at 2:00 p.m. CEST, plus 0.59 percent versus the prior close of EUR 3.39 on October 1, 2026. On the primary exchange, the JSE quote was ZAc 6,400 at 1:09 p.m. SAST on October 2, 2026, within a 52-week range of ZAc 4,800 to ZAc 7,538.