Premier Fishing saw a +40% surge in full-year net profit to R95m on the back of good catches and good sales, particularly of squid, which they catch in abundance together with lobster, small pelagics, hake, horse mackerel, swordfish and tuna. They also own an abalone farm. The acquisition of Talhado last year saw the fleet expand from four to 22 vessels, which also helped production. Sea Harvest, in the meantime, although not particularly apropos, has like other businesses in the sector made great strides in the area of empowerment: since Brimstone dropped R700m-odd on buying out Tiger Brands ten years ago, Sea Harvest has listed on the JSE, got its black ownership up to 80%, and become a Level 1 BBBEE contributor, with over 70% black senior and middle management, while distributing wealth to shareholders including employees.
Comment: Nice work, that sector.