OCEANA GROUP LIMITED - TRADING STATEMENT
Oceana Group Limited
("Oceana")
(Registration number. 1939/001730/06)
JSE Share Code: OCE
ISIN: ZAE000025284
TRADING STATEMENT
Shareholders are advised that headline earnings for the six-month period ending
31 March 2004 are expected to be lower than those reported for the six months
ended 31 March 2003.
The expectation of reduced earnings is mainly as a result of the continued
strength of the Rand which affected the profitability of Oceana"s export
businesses. Other reasons include lower canned fish production yields and
fishmeal selling prices during the period and one-off costs related to an engine
breakdown on a midwater trawler.
The decline in headline earnings for the half-year is expected to be material,
as defined in the Listings Requirements of the JSE Securities Exchange South
Africa.
Shareholders are also advised that this decrease does not necessarily give an
indication of a decrease in headline earnings for the year to 30 September 2004.
Factors such as fishing seasonality as well as the fluctuation in exchange rates
affect headline earnings.
This earnings forecast has not been reviewed and reported on by Oceana"s
auditors. Accordingly shareholders are advised to exercise caution in trading
in Oceana shares until the release of Oceana"s interim results for the six
months ending on 31 March 2004 on or about 07 May 2004.
Cape Town
05 February 2004
Sponsor:
Standard Corporate and Merchant Bank
A Division of The Standard Bank of South Africa Limited
(Registration number 1962/000738/06)
Date: 05/02/2004 12:58:03 PM Produced by the JSE SENS Department
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