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Oceana basic HEPS seen 20%-22% higher

11 May 2012

Fishing group Oceana (OCE) said on Wednesday (9 May 2012) it expected its basic headline earnings per share for the six months ended March 2012 to rise between 20% and 22% compared with the same period a year ago.

The earnings include the R34.750 million provision regarding an administrative penalty agreed with the Competition Commission. Oceana is to pay the penalty following a number of price fixing and market allocation contraventions within the pelagic fish industry.

The group operating profit - excluding the effect of the penalty, is expected to be between 40% and 42% higher than for the comparative period.

The interim results are expected on May 11.

Source: I-Net Bridge

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