Published 13 May 2020 by Edward West

Chief executive Rushaan Isaacs.

CAPE TOWN – Premier Fishing and Brands, one of the largest black-owned and managed fishing companies, said yesterday that taxed profit fell 63.6 percent to R20 million in the six months to February 29, mainly due to factors outside its control, such as the impact of Covid-19 on export markets and lower total allowable catches.

Chief executive Rushaan Isaacs said Premier had faced big challenges over the period, but “our results are satisfactory and better than expected, given that we are still facing these challenges”.

No interim dividend was declared due to the uncertain environment.

Premier is a vertically integrated fishing company specialising in the harvesting, processing, marketing and sales and distribution of marine products.

It owns and manages factories, an abalone farm, facilities and fishing vessels, and prides itself on being one of the most transformed in the fishing industry in terms of management and employees.

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