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Oceana earnings rise 5%
Oceana earnings rise 5%

Oceana earnings rise 5%


Fin24 - Nov 11th 2011, 08:09

Johannesburg - Fishing and allied services group Oceana Group [JSE:OCE] on Thursday reported a 5% increase in diluted headline earnings per share for the year to September 30 2011 from 299.2 cents to 312.7c. 

Operating profit before abnormal items increased by 6% to R512.7m over the previous year, with significant improvements in the horse mackerel and canned fish business units largely offset by disappointing results in fishmeal and certain other business units.

This was achieved on the back of a 7% growth in revenue to R3.7bn.

A final dividend of 183c/share has been declared, which together with the interim dividend of 37c brings the total dividend for the year to 220c/share, a rise of 6% on the 2010 total dividend of 208c.

The group is currently trading under a cautionary as it is engaged in discussions which could have a material effect on the price of its securities.

Looking ahead, the group said it is well positioned to take advantage of opportunities for further organic and acquisitive growth 

Read more about: acquisition | organic | dividend | profits | fishing | oceana

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