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Oceana delivers operating profit growth of 69% at the full year

Oceana Group Limited says it has demonstrated its ability to keep delivering value to shareholders while maintaining good financial discipline in managing its balance sheet. For the year ended 30 September, Group revenue grew by 34% to R8.2bn, operating profit increased by 69% to R1.7bn, and headline earnings increased by 34%. As a result of the diluting effect of the additional shares issued in September 2015, headline earnings per share (HEPS) increased by 20%, resulting in a five-year compound annual growth rate in HEPS of 12%.

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Oceana’s big freeze

CAPE TOWN-based Oceana Group, Africa’s largest fishing company, is markedly increasing imports of frozen pilchards to meet local demand for its iconic Lucky Star canned pilchards brand – a staple meal in many South African households. Oceana operates across most segments in the fishing industry – ranging from horse mackerel, fish meal, hake, squid and west coast lobster. But its largest profit segment is in the canned pilchard sector, where is holds dominant market shares in most regions in South Africa.

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