South Ocean Holdings Limited provided earnings guidance for the year ended December 31, 2016. South Ocean Holdings' headline loss per share for the year ended December 31, 2016 is expected to be between 3.8 cents (42%) and 4.2 cents (46%) higher than the headline loss per share for the corresponding prior year. The loss per share is expected to be between 15.3 cents and 16.9 cents higher compared to the loss per share for the corresponding prior year. The increase in the loss per share was partly a result of the net impairment charge of ZAR 13.5 million to the plant and machinery of South Ocean Electric Wire Company due to the subsidiary's value in use being lower than the enterprise value and an additional net provision of Radiant's inventory to the value of ZAR 6.4 million.