The JSE will see a second fishing company docking when Premier Fishing – which is being spun out of African Empowerment Equity Investments (AEEI) – lists in February.At the time of writing, PremFish had just embarked on a road show to introduce the company to institutional investors. But more importantly, perhaps, is that PremFish’s listing initiative coincided with the release of year-end results from giant fishing conglomerate Oceana, which has Tiger Brands and empowerment company Brimstone Investment Corp as anchor shareholders.Oceana put out a stunning set of results, with all divisions – particularly the Lucky Star canned pilchards and the recently acquired Louisiana-based Daybrook fishmeal and fish oil operations – driving the bottom line. The well-reinforced margins and surging cash flows prompted Oceana’s directors to hike the full-year dividend payment by an enviable 28% to 469c/share.Based purely on fundamentals, Oceana’s results would be ranked as the most nutritious for ...
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