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Trading Statement
PREMIER FISHING AND BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/018598/06
JSE code: PFB
ISIN: ZAE000247516
(“PFB” or “the Company” or “the Group” or "Premier”)
TRADING STATEMENT
In terms of paragraph 3.4(b) of the Listings Requirements of the
JSE Limited, listed companies are required to publish a trading
statement as soon as they become reasonably certain that the
financial results for the period to be reported on next will
differ by at least 20% from that of the previous corresponding
period.
PFB is currently finalising its financial results for the six
months ended 29 February 2020 and shareholders are advised that
the Group expects to report net profit attributable to owners of
the parent of between R10.6 million and R17.6 million,
representing a decrease of between 49.62% and 69.62%, compared to
net profit attributable to owners of the parent of R34.9 million
reported on in the previous corresponding period.
The Group expects to report basic earnings per share to be
between 4.08 and 6.77 cents compared to basic earnings per share
of 13.44 cents reported on in the previous corresponding period,
representing a decrease in basic earnings per share of between
49.60 and 69.60%.
The Group further expects the headline earnings per share to be
between 3.59 and 6.28 cents compared to headline earnings per
share of 13.49 cents reported on in the previous corresponding
period, representing a decrease in headline earnings per share of
between 53.38% and 73.38%.
While there is still a high demand for the groups’ products
globally, the Corona Virus (COVID 19) has had an adverse effect
on its financial performance. The group is regarded as an
essential business service and is still able to carry on
operations with catching and processing most of its products,
however, the group is unable to export freely to its global
markets in the Far East, Europe and the USA during the COVID 19
period. Global selling prices are under pressure which has caused
a decline in revenue and in turn profitability. Furthermore, the
Group’s squid division has also been adversely affected by low
squid landings industry wide, and this has also played a part in
the lower revenues and hence lower profits.
The financial information on which this trading update is based
has not been reviewed or reported on by the company’s auditors.
The company’s financial results for the six months ended 29
February 2020 are expected to be released on SENS during the week
ending 15 May 2020.
Cape Town
7 May 2020
JSE Sponsor
Vunani Sponsors
Date: 07-05-2020 05:05:00
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