Oceana Rules the Sea

CAPE fishing giant Oceana Group hauled a much bigger profit from its inshore fishing business to post an interim performance so powerful that a fairly hefty competition commission fine hardly provided any drag on bottom line.

In fact, had Oceana not been lumbered with the R35 million fine for transgressions in the ‘small pelagic’ sector, the group would have reported operating profits of almost R335 million – more than 50% higher than last year. The official operating profit of R265 million was a more than respectable 25% ahead of the last half year number – not exactly a shabby performance.

Read the full story on CAPE Business News.