Oceana results | Lucky Charm, Lucky Star, boosts profits

JOHANNESBURG - Amid the cost of living crisis, consumers are feeling the pinch and turning to tinned fish and that's benefiting global fishing and food processing company, Oceana.

The producer of Lucky Star tinned fish released its first-half results and reported an increase in profit after tax by 74.2-percent to R716-million.

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Lucky Star’s value offering resulted in sales of 4.8 million cartons off the back of a record 5 million sold in the previous half of the year.

The business invested R100-million in its Lucky Star canned meat plant on the West Coast to meet the increasing demand for affordable protein.