Premier Fishing and Brands Limited Forecasts Major Earnings Drop in H1 2023

Premier Food and Fishing
  • Premier Fishing and Brands Limited expects a significant decrease in earnings for H1 2023.
  • Anticipated decline in basic earnings per share (EPS) and headline earnings per share (HEPS) ranging between -71.56% and -51.56% compared to the prior year.
  • Detailed financial results to be released on or about 25 May 2023, providing insights into the factors contributing to the earnings decline.

Premier Fishing and Brands Limited (PFB), a prominent fishing and brands company incorporated in South Africa, has issued a trading statement forecasting a substantial decline in earnings for the six months ending 28 February 2023 compared to the corresponding period in the prior year.

The company disclosed that it anticipates a decrease in basic earnings per share (EPS) ranging from 0.87 to 1.49 cents per share for the aforementioned period. This represents a significant decline of approximately -71.56% to -51.56% in comparison to the basic EPS of 3.07 cents reported during the same period in 2022.

Similarly, Premier Fishing and Brands Limited expects a corresponding decrease in headline earnings per share (HEPS) for the six months ending 28 February 2023. The projected HEPS range is also between 0.87 and 1.49 cents per share, reflecting a decline of approximately -71.56% to -51.56% compared to the HEPS of 3.07 cents per share reported in the prior year.

The disclosure of this trading statement is in compliance with paragraph 3.4(b) of the Listing Requirements of the JSE Limited, which mandates listed companies to publish a trading statement when they reasonably expect a deviation of at least 20% in their upcoming financial results compared to the previous corresponding period.

Premier Fishing and Brands Limited’s financial results for the six months ending 28 February 2023 are scheduled to be released on the Stock Exchange News Service (SENS) on or around 25 May 2023. Investors and stakeholders eagerly await the detailed financial report to gain insights into the underlying factors contributing to the anticipated decline in earnings.

PFB, operating in both local and international markets, encompasses fishing, fish processing, and the production of various branded food and beverage products. The company plays a crucial role in fostering economic growth within South Africa’s fishing industry.

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