Voluntary trading statement
Oceana Group Limited
Incorporated in the Republic of South Africa
(Registration number 1939/001730/06
JSE Share Code: OCE
NSX Share Code: OCG
ISIN Number: ZAE000025284
(‘Oceana’ or ‘the Company’ or ‘the Group’)
VOLUNTARY TRADING STATEMENT
Shareholders of Oceana (“Shareholders”) are advised that Oceana is satisfied that a
reasonable degree of certainty exists with regard to the Company’s financial results for the
six months ended 31 March 2017.
Accordingly, basic earnings per share for the six months ended 31 March 2017 compared to
the six month period ended 31 March 2016 (“comparative period”) are expected to decrease
between 15% and 18%, being 198.2 cents per share to 191.2 cents per share (31 March 2016:
233.1 cents per share).
Basic headline earnings per share for the six months ended 31 March 2017 are expected to
decrease between 15% and 18% being 196.2 cents per share to 189.2 cents per share (31
March 2016: 230.8 cents per share) compared to the comparative period.
The expected decrease is attributable primarily to losses on foreign exchange contracts held
to cover the import of frozen fish. During the period, the estimated aggregate foreign
exchange loss is R44.7 million compared to an aggregate foreign exchange gain of R69.9
million in the comparative period. This equates to a decline of 14% in basic headline earnings
per share for the six months ended 31 March 2017 compared to an increase of 18% for the
comparative period, after adjusting for taxation.
In addition, earnings were negatively impacted by lower canned fish volumes in the first six
months, driven primarily by the timing of buy-in effects ahead of price increases taken in April
2016 and October 2016, respectively as well as lower CCS occupancies in Gauteng.
The financial information on which this trading statement is based has not been reviewed
and/or reported on by the Company`s auditors.
The Company expects its results for the six months ended 31 March 2017 to be released on
the Stock Exchange News Service on or about Thursday, 18 May 2017.
21 April 2017
The Standard Bank of South Africa Limited
Old Mutual Investment Services (Namibia) Proprietary Limited
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