Oceana Group highlights collaborative efforts at 2nd annual CSI-CEO breakfast
SOUTH AFRICA – At the recent 2nd annual CSI-CEO Breakfast hosted by Oceana Group Ltd., the focus was on the theme “Amplifying Impact through Collaboration.”
The event featured a keynote speech by Nick Rockey, Managing Director at Trialogue, who discussed the progression of Corporate Social Investment (CSI) and outlined strategies for enhancing social impact through collective efforts.
In his address, Rockey provided insights into evolving approaches to CSI and the importance of teamwork in achieving meaningful outcomes.
Oceana’s CEO, Neville Brink, alongside CFO Zaf Mahomed, emphasized the company’s dedication to positively influencing communities through its leading projects.
Brink acknowledged the critical role of partnerships in realizing these objectives, expressing his appreciation for the partners’ steadfast support, shared goals, and robust collaboration.
Oceana Group Limited, a South African fishing enterprise operating across five countries and four coastlines, has been faring well in the South AFrican food industry.
The company announced significant financial gains for the fiscal year ending September 30, 2023.
The company reported a notable 29 percent increase in revenue compared to the previous year, reaching ZAR 10 billion (approximately US$532 million).
This performance marks the highest revenue figure for Oceana in the past five years.
The revenue surge is attributed to the global rise in prices of key products, notably fish oil.
In a joint statement released on November 27, 2023 Chairman Mustaq Brey and CEO Neville Brink highlighted that the weaker South African rand played a crucial role in boosting export revenues, alongside a substantial rise in income from its U.S. operations.
The company’s previous fiscal year revenue was ZAR 8.1 billion (around US$ 431 million).
The statement emphasized that increased demand and better pricing for wild-caught seafood products further contributed to the company’s robust performance.
Oceana’s operating profit from ongoing operations saw a 19.8 percent year-over-year increase, reaching ZAR 1.5 billion (about US$80 million).
Additionally, profit after tax in this segment rose by 25.2 percent to ZAR 990 million (approximately US$53 million).
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE
