Acquisitions boost Oceana
Oceana Group on Thursday delivered a strong set of results for the year to September underpinned by the acquisitions of the fishing assets of Foodcorp and the US-based Daybrook Fisheries.
The company said in a statement: “Volume growth across most sectors and improved pricing, bolstered by the effect of the weaker exchange rate on our export businesses, have further contributed to overall revenue growth.”
Turnover was up 22%, from R5-billion to R6.2-billion, and operating profit improved by 17%, from R880-million to R1-billion.
Oceana said costs of R80.8-million related to the Daybrook acquisition had been offset by foreign exchange gains on the settlement of the purchase consideration of R97.7-million.
Headline earnings a share came in at 588.2c, a 7% increase on 549.2c reported last time. A final dividend of 259c a share has been declared which, together with the interim dividend of 106c, brings the total dividend for the year to 365c a share.
Looking forward, the statement said, inclusion of operating results from Daybrook are expected to have a material effect on earnings, as is the El Nino effect being experienced in the Pacific Ocean. El Nino has negatively affected the outlook for the Peruvian anchovy landings for the rest of this year and possibly the first half of next, with the expected result of a firming of global fishmeal and fish oil prices.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















