Oceana records recovery thanks to strong demand across its products
CEO says tight management of inventory and working capital were instrumental in satisfactory performance
Oceana, the listed fishing group in which Brimstone holds a 54.2% interest, enjoyed a strong recovery in the six months to end-March 2021 as lockdown restriction were eased.
“Trading was a little bit tougher than we expected at the back end of the period. We had two material headwinds in the form of lower inventory volumes in our US business [Daybrook] and constraints at the port of Cape Town that negatively impacted performance. But we are not expecting to have material disruptions from Covid in the second half of the year,” said Oceana CEO Imraan Soomra...