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Short Form Announcement - Unaudited Interim Results for the 6 Months Ended 28 February 2021 and Dividend Declaration
PREMIER FISHING AND BRANDS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/018598/06
Share code: PFB and ISIN: ZAE000247516
(“PFB” or “the Company” or “the Group” or "Premier”)
SHORT FORM ANNOUNCEMENT
SUMMARISED UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE 6 MONTHS ENDED 28 FEBRUARY 2021 AND DIVIDEND
DECLARATION
Shareholders are hereby advised that Premier Fishing and Brands Limited’s (“Premier”) summarised unaudited condensed
consolidated interim results for the 6 months ended 28 February 2021 are available on Premier’s website and can be
viewed at https://senspdf.jse.co.za/documents/2021/jse/isse/pfbe/SENS LF.PDF
The salient features compared to the corresponding period in the prior year are as follows:
- Revenue increased by 32% to R284 million from R215 million
- Gross profit increased by 9% to R87 million from R80 million
- Profit before tax increased by 62% to R21 million from R13 million
- Earnings before interest, taxation, depreciation, and amortization (EBITDA) increased by 43% to R40 million
from R28 million.
- Basic and diluted earnings per share decreased by 68% from 5.43 cents to 1.75 cents
- Basic and diluted headline earnings per share decreased by 65% from 4.94 cents to 1.75 cents
- Current asset ratio 4:1
The Group delivered a solid performance for the period ending February 2021, which saw revenues rise to R284
Million (2020: R215 million), primarily due to increases in revenue for the squid sector, lobster sector, the
pelagic sector and the hake sector. The demand for the Groups’ products has remained very strong, considering the
adverse effects of COVID-19 still that prevail globally. The squid sector has enjoyed a massive turnaround from
the prior period, due to the availability of the resource. Due to historical trends and seasonality, some of the
sectors like Lobster, Pelagic and Hake generally perform better in the second half of the year, and we expect this
trend to continue.
Catch rates to date for both the squid and lobster sectors have been very good and are expected to continue as the
resource remains strong. Furthermore, we expect pelagic catches to pick up in the second half of the year.
However, the abalone sector remains a challenge due to the adverse effects of COVID-19 on the Asian markets,
but we remain positive as the markets have shown signs of recovery and will continue to slowly open further
opportunities.
DIVIDENDS
The Board of directors are pleased to announce that it has approved and declared a gross interim dividend of 5 cents
per share for the interim period ended 28 February 2021 from available reserves. The final dividend amount, net of
South African dividend tax of 20%, which equate to 1 cent per share, and is therefore a net 4 cents per share for
those shareholders that are not exempt from dividend tax.
The number of ordinary shares in issue at the declaration date is 260 000 000 and the income tax number of the
Company is 9246036033.
The salient dates of the dividend distribution are as follows:
- Last day to trade in order to participate in the dividend Tuesday, 22 June 2021
- Shares trade ex dividend Wednesday, 23 June 2021
- Record date Friday, 25 June 2021
- Payment date Monday, 28 June 2021
Share certificates may not be dematerialised or rematerialised between Wednesday, 23 June 2021, and Friday 25 June
2021, both days inclusive.
GOING CONCERN
Following the recent outbreak of COVID-19, certain financial pressures will be placed on certain divisions within
the Group. A number of interventions have been put in place to mitigate these financial pressures and as such, the
Board of Directors believe that the Group still has adequate financial resources to continue in operation for the
foreseeable future and accordingly these interim financial statements for the six months ended 28 February 2021 have
been prepared on a going concern basis.
The Board of Directors have satisfied themselves that the Group is in a sound financial position and that it has
access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of
any new material changes, except for the COVID-19 pandemic that may economically impact the Group.
STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION
This short-form announcement contains only a summary of the information in the full announcement and does not
contain the full and complete details and is the responsibility of the directors.
Please refer to the full announcement for additional information. The full announcement is also available for
viewing on Premier’s website at www.premierfishing.co.za. In addition, copies of the full announcement may be
requested and obtained, at no charge during office hours from PFB’s registered office, or from the sponsor at
sponsor@vunanicapital.co.za.
Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement
which is available on Premier’s website.
APPRECIATION
We wish to thank our employees, Group executives, management, our Board of Directors, as well as our strategic
partners, stakeholders and business partners for their loyalty and dedication in contributing to the success of
the Group during this trying period.
Mrs Aziza Amod Mrs Rushaan Isaacs
Independent non-executive Chairperson Chief executive Officer
Cape Town
17 May 2021
DIRECTORATE AND STATUTORY INFORMATION
Directors
#*Aziza Amod (Independent non-executive chairperson; *Rushaan Isaacs (Chief executive officer); *B Robertson (Chief
financial Officer #*Rosemary Phindile Mosia; #*Clifford Leonard van der Venter; #* Salim Young; #*Advocate Ngoako
Ramatlhodi, #*Sebenzile Patrick Mngconkola; #*Valentine Dzvova
* Executive directors
#*Non-executive directors
Company Secretary: Cornell Kannemeyer
Business address: No.3 South Arm Road, Victoria Basin, Victoria and Alfred Waterfront, Cape Town, 8001
Email: cornellk@premfish.co.za
Transfer secretaries: Link Market Services South Africa (Pty) Ltd, Rennie House, 13th Floor, 19 Ameshoff Street,
Braamfontein, 2001
Auditors: THAWT Inc and Crowe JHB (3 Sandown Valley Crescent, Sandown 3196, PO Box 652550, Benmore
2010, South Africa, Docex 12, Nelson Mandela Square)
Sponsor: Vunani Sponsors
Date: 17-05-2021 05:30:00
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