Premier Fishing and Brands improves its haul
The group declared its first interim dividend of 12c a share
At a time when JSE-listed companies continue to be hurt by investment excursions to foreign lands, Premier Fishing and Brands on Tuesday reported a 200% increase in operating profit, with customers in the US and Europe accounting for the majority of sales. The group reported an interim revenue increase of 55% and a rise in gross profit of 72% in the six months to end-February. Premier holds medium- to long-term fishing rights in squid, lobster, small pelagics, hake deep-sea trawl, hake longline, horse mackerel, swordfish and tuna. The group’s South African operations only account for 10.4% of its revenue, with the majority coming from sales in Europe. Cash-cows for the group include squid and lobster whose sales accounted for R230m in revenue for the period. With profit before tax increasing to R73m, a 78% rise from the previous period, the group declared its first interim dividend of 12c a share. Looking ahead Premier's management is positive about the future saying that it is ...
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