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Frikkie's Surname is Kruger (Afrikaans pronounced)

Revenue for the interim period shot up by 40% to R3.6 billion (2015: R2.6 billion). Gross profit grew by 38% to R1.3 billion (2015: R930.4 million). Operating profit soared by 76% R600.3 million (2015: R340.7 million). Profit after taxation attributable to shareholders of Oceana Group Ltd. was 20% higher at R271.9 million (2015: 225.8 million). Furthermore headline earnings per share increased by 6% to 230.8 cents per share (2015: 218.0 cents per share).

Dividend
Notice is hereby given of dividend number 145. A gross interim dividend amounting to 112 cents per share, for the six months ended 31 March 2016, was declared on Thursday, 12 May 2016, out of current earnings. Where applicable the deduction of dividends withholding tax at a rate of 15% will result in a net dividend amounting to 95,2 cents per share.

Prospects
As was required by the department of Agriculture, Forestry and Fishing (DAFF), fishing rights applications for horse mackerel, hake inshore and West coast rock lobster were submitted on 24 February 2016. DAFF has indicated that the outcome of the allocations will be concluded during August 2016. This will not have an effect on the current year's financial results.

The group expects pricing to improve in the fishmeal and fish oil sector based on consistent demands, and with supply challenges in the Peruvian and European sectors. In the USA the 2016 Gulf Menhaden fishing season commenced on the 18th April 2016 with the season planned to run for a 28 week period to the end of October 2016. Early season landings have been positive with good oil yields. In South Africa the group expects consistent landing patterns of pilchards, industrial fish and hake. The group anticipates that its canned fish value proposition will remain competitive. In Namibia, the group's performance for the second six months will be dependent on the timing and extent of the allocation of remaining horse mackerel quota. As the group is materially a net exporter of goods, the group's overall performance for the full year will also be impacted by prevailing exchange rates. Oceana anticipates that its acquisitions of Foodcorp and Daybrook will continue to deliver the projected returns. In the group's drive for efficiency and focus, the group will continue to evaluate non-core and underperforming assets in the period ahead.

OCE    


The performance of the group for the six months ended 31 March 2016 has been positive. Daybrook and Foodcorp have been
successfully integrated and both have performed in line with expectations. Increased SA canned fish and hake volumes, higher
occupancy levels in the Commercial cold storage business and the effect of a favourable exchange rate have contributed to growth.

Revenue grew by 40%, increasing to R3 602 million from R2 566 million in 2015. Excluding the impact of Daybrook, the group achieved
revenue growth of 13%.

Operating profit before abnormal items increased by 67% to R587 million (2015: R352 million) over the period and excluding
Daybrook by 13%.

Cash flow from operations increased by 75% to R401 million (2015: R230 million).

Net interest charged for the period is R176.0 million (2015: R27.3 million) primarily due to finance costs incurred on additional
working capital facilities and increased long term debt. The average interest rate for all debt is currently 6.7% per annum.

Group headline earnings for the period increased by 19%. As a result of the diluting effect of the additional shares issued during
September 2015, basic earnings per share and basic headline earnings per share increased by 7% and 6% respectively.

An interim dividend of 112 cents per share has been declared (2015: 106 cents per share).

OCE Results look good my fishies

 

MEDIA giant Naspers’s opening up of a San Francisco office was merely part of an expansion strategy and not a precursor to a foreign listing, it said on Wednesday.

The move into the US follows an announcement last month, that it would report results in dollars and not rands.

That sparked speculation that Naspers may be looking at a secondary listing elsewhere or to transfer its primary listing from the JSE.

Meloy Horn, Naspers’ investor relations officer on Wednesday dampened the speculations saying that opening an office in San Francisco was a completely different business consideration and not a strategic positioning for a listing.

"The recent change in reporting currency was purely driven by our transformation from a predominantly South African operation to a global internet and media group and no other reason."

"We are not considering re-domiciling and remain a South African group listed on the JSE," she said.

Naspers has been lauded for its early investment in Chinese e-commerce site Tencent Holdings and currently has a market capitalisation of R876bn on the JSE.

The move into San Fransisco was part of sharpening its Naspers Ventures business, and "simply a logical next step" for expansion, Ms Horn said.

"Our renewed interest in the US is to identify, early on, the new platforms with global potential and the entrepreneurs with global ambition, but who need support to accelerate their growth," she said.

Naspers previously listed its shares as American depositary receipts on Wall Street and later relocated the listings to the London Stock Exchange.

Ms Horn said its primary listing would remain on the JSE. "The JSE, and our stock … remain very liquid," she said.

Last pic is from Moneyweb's site.

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was 5th last month