JOHANNESBURG - Global fishing company, Oceana, says it is grateful cash-strapped consumers looking for cheaper food, opted for Lucky Star tinned fish.
The producer of the fish, says consumer demand for affordable protein and the relative value that Lucky Star provides, ensured a strong recovery in sales in the second half, after stock shortages impacted its first-half performance.
Sales volumes in the second half increased by 8 percent, contributing to the double-digit growth in earnings from total operations.
Looking forward, the company says the demand for low-cost protein is expected to continue to drive sales volumes of canned fish despite the constrained consumer environment.
However, cost pressures are set to persist and may force Oceana to initiate more price increases.
Oceana says it's grateful cash-strapped consumers looking for cheaper food opted for Lucky Star tinned fish. The fish producer says consumer demand for affordable protein and the relative value that Lucky Star provides ensured a strong recovery in sales in the second half. #eNCA pic.twitter.com/eQCTRO861b
— eNCA (@eNCA) December 5, 2022