Oceana Group Limited provided earnings guidance for the six months ended 31 March 2017. For the period, basic earnings per share are expected to decrease between 15% and 18%, being 198.2 cents per share to 191.2 cents per share. Basic headline earnings per share are expected to decrease between 15% and 18% being 196.2 cents per share to 189.2 cents per share (31 March 2016: 230.8 cents per share) compared to the comparative period. The expected decrease is attributable primarily to losses on foreign exchange contracts held to cover the import of frozen fish. In addition, earnings were negatively impacted by lower canned fish volumes in the first six months, driven primarily by the timing of buyin effects ahead of price increases taken in April 2016 and October 2016, respectively as well as lower CCS occupancies in Gauteng.