Oceana Group LimitedJSE: OCE

OCE: Operating profit down 23% to ZAR 1.3bn, but Africa profit up 58%; dividend cut 43%

· Issued by Oceana Group Limited

Operating profit fell 23% to ZAR 1.3bn on flat revenue, as fish oil prices dropped sharply, but Africa businesses grew profit 58% and Lucky Star Foods delivered solid results. Net debt to EBITDA rose to 1.7x, and the dividend was cut 43%.

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