Namibia boosts Oceana's results

Oceana’s Namibian operations have proven pivotal in the company’s performance for the five months ended 22 February 2026. According to a recent trading statement, the regional performance enhanced the overall results of the group’s wild-caught food segment.

While the company did not provide specific guidance on anticipated headline earnings per share, Oceana said Lucky Star Foods performed well, supported by its operations in both Namibia and South Africa.

“Lucky Star Foods performed well, driven by high demand for canned fish and better margins. Additionally, improved results from the horse mackerel businesses in South Africa and Namibia enhanced the overall performance of the wild-caught seafood segment,” Oceana said. .

Lucky Star Foods recorded a 6.7% increase in sales volumes during the period. Oceana attributed this growth to robust local demand for canned fish products, an encouraging result given the current challenging consumer environment. Non-fish products accounted for 9% of total sales volume, with canned meat showing strong growth.

In Namibia, catch rates remained consistent with the previous period. However, total sea days were lower due to the Desert Jewel freon conversion and the completion of an engine overhaul for the Desert Ruby.

Following its deployment in Namibia, the Desert Diamond supported operations by providing additional catch capacity. Despite this, Namibian performance saw a decline due to a 14.0% increase in catch costs. Oceana said this was driven by higher fuel and quota costs, alongside a higher proportion of lower-value by-catch.

The Group's interim results for the six months ending 31 March 2026 are expected to be released on the Johannesburg Stock Exchange’s News Service (SENS) on or about 21 May 2026.