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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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Great catch

One can be forgiven for getting too excited when the big hake catchers make a big profit splash. That’s because the hake industry in the past decade-and-a-half has certainly not been characterised by uneven catches and periods where operating performance was stranded on the rocks.

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Hake profit net swells

It's really proving a good time of late to be a catcher of hake – a stark contrast to a period not that many years ago when this stalwart fishing niche was facing some
choppy waters. In fact, Cape Town’s two premier frozen fish specialists (and intense rivals) – Sea Harvest and I&J – now appear to be reeling in rather big
profit catches.

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