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OCE - Oceana Group Limited - Updated trading statement

Release Date: 09/05/2012 13:56
Code(s): OCE
Wrap Text

OCE - Oceana Group Limited - Updated trading statement Oceana Group Limited (Registration number: 1939/001730/06) JSE Share Code: OCE NSX Share Code: OCG ISIN: ZAE000025284 ("The Company" or "Group") UPDATED TRADING STATEMENT In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE Limited and further to the Trading Statement released on the Securities Exchange News Service ("SENS") on Tuesday, 2 May 2012, shareholders are advised that basic earnings per share and basic headline earnings per share for the six months ended 31 March 2012 are expected to be between 20% and 22% higher than the comparative figure for the six months ended 31 March 2011 ("comparative period"). Shareholders are referred to an announcement released on SENS earlier today regarding the Consent Agreement concluded between the Company, its subsidiary Oceana Brands Limited and the Competition Commission in relation to its investigation into the small pelagic fishing industry. The financial results for the six months ended 31 March 2012 include a provision amounting to R34.75 million in respect of the administrative penalty agreed with the Competition Commission. Shareholders are further advised that Group operating profit for the six months ended 31 March 2012, excluding the effect of the aforementioned Competition Commission penalty, is expected to be between 40% and 42% higher than for the comparative period. The financial information and voluntary additional information on which this updated 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 2012 to be released on SENS on or about Friday, 11 May 2012. Cape Town 9 May 2012 JSE Sponsor The Standard Bank of South Africa Limited Namibian Sponsor Namibia Old Mutual Investment Services (Namibia) Proprietary Limited Date: 09/05/2012 13:56:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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