twitter RSS Feed linkedin acp contact

Premier Fishing in South Africa set on high growth path

Premier Fishing and Brands Limited, one of the leading fishing companies in South Africa, has achieved a profit increase by 14 per cent and profit after tax increase by 59 per cent, said the company in its results for the interim period to 28 February 2018

Squid MagThe landed volumes and sales volumes for squid doubled when compared to the prior period. (Image source: Adobe Stock)

According to the company, this was mainly driven by the strong performance in the squid and lobster divisions for the period under review.

Reflecting on the period under review, Samir Saban, CEO of Premier, said, “Since listing the group on the JSE last year, we faced tough trading and environmental conditions but, despite this, the company has achieved positive results.”

The revenue increased by one per cent to US$14.70mn from US$14.54mn in the prior period and also had a positive effect on the growth margin, increasing it to US$6.04mn from US$5.64mn in the prior period.

Premier has demonstrated that it has delivered on its growth strategy by completing its acquisition of Talhado Group (Talhado).

On 16 May 2018, Premier announced the approval of its first acquisition of controlling interest of 50.31 per cent in Talhado which is one of the largest squid company’s in South Africa. The strategic acquisition of Talhado was made for its squid fishing rights, brand, processing facilities as well as to enhance the group’s footprint in the squid sector.

The group puts sustainable fishing at the core of its business ethos and it complies with all industry laws and regulations in South Africa and its fishing methods and standards are in line with global standards.

Khalid Abdulla, group CEO of majority shareholder African Equity Empowerment Investments Limited (AEEI) and deputy chairman of Premier, added, “As the global appetite for fish grows, the need to protect overfishing and the replenishment of the marine population, aquaculture will remain a key element of Premier’s long-term strategy, complemented by further aligned acquisitions to diversify the company’s product offering.”

As a black-owned and managed fishing business, Premier aims to implement the principles of transformation and broad-based black economic empowerment.

Abdulla concluded, “The group’s resultant strong financial position will enable it to aggressively pursue acquisitions as well as further its organic growth strategies.”


LATEST NEWS IN Aquaculture

African flag registries exploited by high-risk fishing operators: Report

African flag registries exploited by hig…

Ensuring that high-risk fishing operations and vessels are excluded from national flags is a critical step to securing the waters of Africa for the legitimate and sustainable enrichment of coastal...

Angola sees boost in aquaculture and agriculture output

Angola sees boost in aquaculture and agr…

The output in the agriculture and fishing (+12.9% y-o-y) sector in Angola continues to record blockbuster growth and has surpassed pre-pandemic levels, according to the National Statistics Institute’s (INE) latest...

Wanda Fish Technologies Ltd signs agreements to advance goals in cultivated fish

Wanda Fish Technologies Ltd signs agreem…

Israel- FoodTech start-up Wanda Fish Technologies Ltd has signed two agreements with Tufts University to advance the company’s goals in the emerging field of cultivated fish

Ghana imports US$200mn fish annually

Ghana imports US$200mn fish annually

Illegal fishing is having a negative impact on Ghana's fish stock and economy, and the country is spending around US$200mn annually to import fish to meed the demand

US$7mn boost to steer growth in aquaculture across Africa

US$7mn boost to steer growth in aquacult…

Lake Harvest Group, an integrated aquaculture company from Africa, will receive a US$7mn investment from Aqua-Spark and Norfund, to contribute towards the growth of the company’s operations in Zimbabwe, Zambia...

Norway commits US$5mn to help small-scale aquaculture farmers in East Africa

Norway commits US$5mn to help small-scal…

The Norwegian Agency for Development Cooperation (NORAD) will provide US$5mn to increase the incomes and build resilience of small aquaculture farmers in Kenya, Mozambique and Tanzania

Prev Next

OTHER RELATED ARTICLES - Aquaculture

Rwanda improves fish storage infrastructure

Rwanda improves fish storage infrastruct…

Rwanda Agriculture Board (RAB) has announced that it had set up infrastructure for cold chain system at Kigali in a bid to curb post-harvest losses of fish

Nigeria looks to boost local fish production

Nigeria looks to boost local fish produc…

The Nigerian government plans to boost local production of species, in an attempt to reduce the import of fish

US$7mn boost to steer growth in aquaculture across Africa

US$7mn boost to steer growth in aquacult…

Lake Harvest Group, an integrated aquaculture company from Africa, will receive a US$7mn investment from Aqua-Spark and Norfund, to contribute towards the growth of the company’s operations in Zimbabwe, Zambia...

Premier Fishing in South Africa set on high growth path

Premier Fishing in South Africa set on h…

Premier Fishing and Brands Limited, one of the leading fishing companies in South Africa, has achieved a profit increase by 14 per cent and profit after tax increase by 59...

FAO’s Blue Growth Initiative to help Kenyan fishermen

FAO’s Blue Growth Initiative to help Ken…

The government of Kenya and FAO have launched the Blue Growth Initiative (BGI) to benefit the aquaculture sector in the coastal region of Kenya

Chairman of CAFAN urges youth to take up fish farming in Nigeria

Chairman of CAFAN urges youth to take up…

Olawale Tajudeen, the chairman of the Catfish Farmers' Association of Nigeria (CAFAN) has urged youth to engage in fish farming, calling it a 'lucrative business'

Angolan cabinet gives go-ahead for fishing development plan

Angolan cabinet gives go-ahead for fishi…

The Commission for the Real Economy of the Council of Ministers has approved the development plan for artisanal fisheries for the 2014/2017 period at a recent meeting held in Luanda,...

ASC Shrimp Standard recognised by Global Sustainable Seafood

ASC Shrimp Standard recognised by Global…

The Global Sustainable Seafood Initiative (GSSI), a seafood certification industry benchmark, has officially endorsed Aquaculture Stewardship Council’s (ASC) Shrimp Standard

Eritrea launches training course for fishermen

Eritrea launches training course for fis…

Eritrea has launched a training course for traditional fishermen in the port city of Massawa

Ornamental fish farming to diversify Mauritian fisheries sector

Ornamental fish farming to diversify Mau…

The Ornamental fish farming project is set to diversify and consolidate the fishing sector in Mauritius as the breeding of ornamental fish is a lucrative market that is gaining momentum

Namibia receives support from Cuban aquaculture experts

Namibia receives support from Cuban aqua…

Three Cuban aquaculture experts were called upon by Namibia's Ministry of Food and Industry to help boost fish production levels in the country 

Victoria Parr marketing chief of AquaChile joins Veramaris

Victoria Parr marketing chief of AquaChi…

Industry’s leading seafood marketing executive, Victoria Parr joins Veramaris as business development director, North America to anchor further outreach into the US market

Prev Next