Oceana Group, the fishing products group, said Friday that headline earnings per share (Heps) were expected to be between 147% and 127% higher for the six months to March 31.
The company said in a trading statement the increase was compared to the Heps of 126.4 cents reported for the comparative period. The interim results are expected to be released on June 5.
Earnings per share (eps) was expected to be between 307.4 cents and 283.4 cents representing an increase of between 156% and 136% compared to eps of 119.9 cents reported for the comparative period a year before.
The group said this financial performance was achieved mainly through higher opening inventory levels, strong volumes in canned fish offset by increased cost pressures and firm international pricing for fishmeal, fish oil and wild caught seafood.
The results included the performance of Commercial Cold Storage (CCS Logistics) business, treated as a discontinued operation for the full interim period. The effective date of the CCS disposal was April 4, 2023.
Oceana’s share price inched up 0.07% to R70.40 on the JSE Friday afternoon, some 26% higher than the R56 that the share traded at a year before on the same day.
BUSINESS REPORT