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Further Trading Statement For The Six Months Ended 31 March 2025
OCEANA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number : 1939/001730/06
JSE/A2X share code : OCE
NSX share code : OCG
OTCQX share code : OCGPF
ISIN number : ZAE000025284
("Oceana" or "the Company" or "the Group")
FURTHER TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 MARCH 2025
The Group is currently finalising its financial results for the six months ended 31 March
2025 which are expected to be released on or about Monday, 9 June 2025. Shareholders
are referred to the trading statement and the voluntary trading update released on the
Stock Exchange News Service ("SENS") of the JSE Limited ("JSE") on 26 February 2025 and
25 March 2025, respectively. The Group advised that a reasonable degree of certainty
existed that basic earnings per share ("EPS") and basic headline earnings per share
("HEPS") for the six months ended 31 March 2025 ("period') will be more than 40% lower
than the reported EPS of 587.6 cents and HEPS of 578.8 cents for the previously reported
six months ended 31 March 2024 ("comparative period").
In accordance with paragraph 3.4(b)(iii) of the Listings Requirements of the JSE, where a
company has not been able to provide guidance as to the anticipated trading range with
reasonable certainty, it is required to provide further guidance when it does have
reasonable certainty of the range.
Shareholders are accordingly advised that:
• EPS is expected to be between 300 cents and 350 cents representing a decrease of
between 40% and 49% compared to EPS of 587.6 cents reported for the comparative
period; and
• HEPS is expected to be between 300 cents and 350 cents representing a decrease of
between 40% and 48% compared to HEPS of 578.8 cents reported for the
comparative period.
The decline in earnings is mainly due to Daybrook's strong result in the comparative
period, driven by record high fish oil prices. Fish oil prices in the period normalised
following a recovery in Peruvian production. The period's lower earnings are partially
offset by the improved performance in other segments. Lucky Star foods delivered solid
results, supported by steady consumer demand, increased local production volumes,
and improved operational efficiencies. The Wild Caught Seafood segment benefited from
improved hake catches during the second quarter, combined with strong pricing.
The financial information on which this trading statement is based has not been reviewed
or reported on by the Group's auditors.
30 April 2025
Cape Town
JSE Sponsor – Primary Listing
The Standard Bank of South Africa Limited
NSX Sponsor – Secondary Listing
Old Mutual Investment Services (Namibia) (Proprietary) Limited
Date: 30-04-2025 05:05:00
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