Oceana Group Limited provided earnings guidance for the year ending 30 September 2017. The company expects basic earnings per share for the year ending 30 September 2017 compared to the year ending 30 September 2016 to decrease between 35% and 50% based on prevailing market conditions, to between 511 cents per share and 393 cents per share (30 September 2016: 786 cents per share). Basic headline earnings per share (HEPS) for the year ending 30 September 2017 are expected to decrease between 35% and 50% based on prevailing market conditions, to between 457 cents per share and 352 cents per share (30 September 2016: 703 cents per share) compared to the comparative period. The decrease in EPS and HEPS is largely as a result of: softer global markets for fishmeal and fish oil; losses on foreign exchange contracts held to cover the import of frozen fish; the effect of an 8% average strengthening in the rand on foreign earnings and lower canned fish sales volumes from slow consumer demand.