Bad news for Lucky Star as fish shortages hit one of SA’s best-known brands
Oceana Group says shortages of frozen fish raw material reduced Lucky Star’s production and canned-fish sales during the 11 months to August.
Oceana Group's Lucky Star canned fish brand, a key part of South Africa's food business, faced challenges in the 11 months leading up to August 2026 due to fish shortages. These shortages led to a decline in production and sales, impacting the brand's performance. Lucky Star saw a 60% decrease in local canning volumes and a 9% drop in canned fish sales volumes, resulting in a 5% decrease in total sales.
Despite these challenges, the brand's operating margins improved due to higher sales values, lower costs, and a better sales mix. Oceana Group's overall revenue remained in line with the previous period, but operating profit increased, bolstered by strong performances from other divisions like its fishmeal and fish oil business in the US and wild-caught seafood operations.
However, the African fishmeal and fish oil business continued to struggle, leading to significant losses.
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