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Premier’s big catch

PREMIER Fishing (PremFish) – the seafood specialist controlled by BEE company African Equity Empowerment Investments (AEEI) – has landed a bigger profit catch than initially expected. AEEI recently reported that in the year to end August PremFish not only increased its sales volumes, but also achieved better pricing, managed to secure good catch rates and efficient vessel scheduling and utilisation. PremFish consequently saw revenue growth of 15% to R401m and operating profit increasing to R75m (compared with R68m in the prior year.)

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Coega to develop R2bn aqua-farming facility

The Coega Development Corporation (CDC) has announced plans to develop a R2bn aqua-farming facility on 300 hectares of land at the Coega industrial development zone outside Port Elizabeth in the Eastern Cape.This follows the completion of a feasibility study indicating that local conditions were well suited for the commercial cultivation of marine animals and plants, including abalone, finfish and seaweed, Engineering News reported.

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