Oceana Group

Tuesday, September 2nd, 2014,

Investors

Oceana Group Limited's 2013 Integrated Report provides material information relating to the group's strategy, governance practices and performance for the financial year ended 30 September 2013

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Lamberts Bay Foods

Oceana Group

The Lobster, Squid and French Fries divisions includes three SBUs, which share a number of similar attributes in processing and marketing, and where synergies in administration make management more effective and the businesses more profitable. The division is internationally respected as a reliable producer and exporter of prime quality live and frozen South African rock lobster and frozen squid product and produces and markets value added potato products through Lamberts Bay Foods.

Frozen Potato Fries

Lamberts Bay Foods (LBF) produces French fries and other value-added potato products at its factory in Lambert's Bay for sale to wholesalers, retailers and QSR chains. Established in 1995 as a social responsibility project to offset job losses in the region due to the decline in fishing employment opportunities in the area, the business has developed into a viable operation.

Potatoes used in the plant are sourced mainly from Mpumalanga, Free State and the Sandveld region of the Western Cape. Development of long-term relationships with growers closer to Lambert's Bay is one of the business's continuing strategic objectives. The plant operates according to best practice standards and is regarded by customers as having the lowest product defect level in the industry. The factory's hygiene, quality, and safety practices are audited annually by independent assessors appointed by key customers.

The company employs about 270 people in Lambert's Bay and is the single largest employer on the west coast north of St Helena Bay. An independent socio-economic study conducted revealed that approximately 2 250 jobs are created on a national scale through the Lambert's Bay French fries operation.

Philosophy and mission statement

The Gold Seal philosophy

Gold Seal is committed to the dependable supply of consistently superior food products at market-related prices to the food service industry. In this way we ensure the demands of a future generation of discerning clients are met with a quality food brand.

Mission

Gold Seal is committed to manufacturing and supplying superior food products in accordance with world-class standards.

Hash browns – a Gold Seal variety

Hash browns are made by mixing potato pieces with flavoured seasoning to form a shaped patty. These are then gently par-fried in vegetable oil and blast frozen. The final appearance of the hash brown should be crispy and golden brown.

Potato wedges

Our wedges are made from choice round potatoes. They are then cut into segments and par-fried for your convenience. We make them with the skin on to maintain the highest amount of nutrients possible. They can be baked, grilled or fried depending on the meal you serve them with. They are packaged in a convenient 1 kg bag.

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