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Short Form Announcement: Summarised Audited Results for the Year Ended 31 August 2019 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 AUDITED CONDENSED CONSOLIDATED ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2019 AND DIVIDEND DECLARATION
Shareholders are hereby advised that Premier Fishing and Brands Limited’s summarised audited condensed consolidated
results for the year ended 31 August 2019 are available on Premier’s website and can be viewed at
https://senspdf.jse.co.za/documents/2019/jse/isse/pfbe/SENS LF.PDF
. The salient features are as follows:
Highlights compared to the prior year:
- Revenue increased by 17% to R575 million from R491 million.
- Cash generated from operations increased by 36% to R124 million from R91 million.
- Property, plant and equipment increased by 31% to R408 million from R310 million.
- Operating profit decreased by 10% to R83 million from R92 million.
- EBITDA increased by 3% to R112 million from R109 million.
- Gross final dividend of 10 cents per share declared to shareholders, which equates to a total dividend
of 22 cents for the 2019 financial year. (2018: 25 cents per share)
The Group delivered a satisfactory performance for the year, with the Group’s revenue increasing by 17% compared
to the previous financial year.
The 2019 financial year incorporated twelve months of results, relating to its recent squid business acquisition,
as compared to only a portion of the period, (namely from 9 May 2018 to 31 August 2018) with respect to the 2018
financial year, due to IFRS 3 reporting principles.
Cash generated from operations for the period amounted to R124 million, compared to R91 million in the prior year.
During the current reporting period, the Group experienced exogenous factors outside it's control, which included:
- Experienced a decrease of 44% in the total allowable catch “TAC” of the West Coast Rock Lobster as compared to
the prior year;
- Experienced lower landings industry wide of squid as compared to the previous fishing season; and
- The socio political unrest in the Asian market and more specifically in Hong Kong.
As a result basic earnings per share (“EPS”) decreased from 31.48 to 18.56 cents per share, and headline earnings
per share (“HEPS”) decreased from 31.60 to 16.65 cents per share for the year ending 31 August 2019.
Net asset value per share (NAV) for the year ended 31 August 2019 is 313.08 cents per share as compared to
331.71 cents per share in 2018.
DIVIDENDS R’000
Dividend declared after reporting date* R26 000
Dividends per share (cents) 10 cents
*These dividends were declared subsequent to the respective reporting period.
DECLARATION OF CASH DIVIDEND
Notice is hereby given that a final gross dividend of 10 cents per share has been declared out of income reserves
in respect of ordinary shares of no par value for the year ended 31 August 2019.
A dividend withholding tax of 20% or 2 cents per share will be applicable, resulting in a net dividend of 8 cents
per share, unless the shareholder is exempt from paying dividend withholding tax or is entitled to a reduced rate
in terms of an applicable double-tax agreement.
Therefore the company declared a total gross dividend of 22 cents per share for the 2019 financial year end.
The issued share capital at the declaration date is 260 000 000 ordinary shares.
The income tax number of the company is 924 603 6033.
Dates of importance:
- Last day to trade in order to participate in the dividend - Tuesday, 19 November 2019
- Shares trade ex dividend - Wednesday, 20 November 2019
- Record date - Friday, 22 November 2019
- Payment date - Monday, 25 November 2019
Share certificates may not be dematerialised or rematerialised between Wednesday, 20 November 2019, and Friday
22 November 2019, both days inclusive.
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 https://premierfishing.co.za/sens-announcement/ or may be requested and obtained
in person, at no charge, at the registered office of the company or the offices of the sponsor during business
hours. Any investment decisions by investors and/or shareholders should be based on consideration of the full
announcement made 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.
DIRECTORATE AND STATUTORY INFORMATION
Directors
#*Khalid Abdulla (Acting Chairman)#*Salim Young; *Mogamat Samir Saban (Chief Executive Officer); *Imraan Moosa;
*Rushaan Isaacs; #*Rosemary Phindile Mosia;#*Aziza Begum Amod; #*Clifford Leonard van der Venter; #* Advocate
Ngoako Abel Ramatlhodi, #*Sebenzile Patrick Mngconkola
*Executive directors
#* Non-Executive directors
Company Secretary: Mohamed Wazeer Moosa
Business address: No.3 South Arm Road, Victoria Basin, Victoria and Alfred Waterfront, Cape Town, Western
Cape,8001
Email: wazeerm@premfish.co.za
Transfer secretaries: Link Market Services South Africa (Pty) Ltd,
Rennie House, 13th Floor, 19 Ameshoff Street, Braamfontein, 2001
Auditors: BDO South Africa Incorporated
6th Floor, 123 Hetzog Boulevard, Cape Town, 8001(PO Box 2275, Cape Town, 8000)
Sponsor: Vunani Capital
Date: 30/10/2019 05:33:00
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