Oceana basic HEPS seen 20%-22% higher
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.