File Photo: IOL

JOHANNESBURG - Premier Fishing and Brands, which is eyeing potential acquisitions, is finalising its financial results for the six months ended February 28 and now expects net profit to ramp up by up to 30percent. 

The JSE-listed firm said yesterday that it expected net profit of between R34.6million and R37.5m - an increase of between 20percent and 30percent compared to net profit in the prior year of R28.8m. 

Basic earnings per share (beps) were likely to be between 13.32 cents and 14.43c compared to beps of 11c, a hike of between 20 percent and 30 percent. It expects the headline earnings per share (heps) to be between 13.37c and 14.48c compared to heps of 11.1c reported in the previous corresponding period, a rise of between 20percent and 30percent. In May 2018, the group acquired a 50.3percent stake in Talhado Fishing Group for R85m. 

Talhado is the biggest squid company in the South African fishing sector. Premier Fishing and Brands results are expected to be published on April 12.