Increased Squid and Lobster Sales Boost Profit for Premier

by Kayode Oladipo

Having recently acquired 50.31% of Talhado, the largest company in the country, South African fishing company, Premier has recorded a 20% boost in profit in the current financial year.

Premier’s collaboration with Talhado will also provide additional benefits in diversification and the extension of the company’s production capacity. Some of these benefits are in the long term and will be realized as the years go by.

This boost has been attributed to increase in the amount of squids and lobsters caught and the pricing increase in the US Dollar for the South Coast Rock Lobster (which Premier also produces).

Samir Saban, CEO of Premier has heaped praises on the group’s operating divisions commending them on their excellent performances in “increasing the catch volumes, achieving better pricing, efficient cost and vessel management.”

He also spoke about the company’s plans to expand its abalone production unit, stating that the increase in its capacity from 120 tonnes to 160 tonnes. This in turn will provide additional employment in addition to the 60 employees already engaged on the abalone farm.