Premier Fishing and Brands is looking to preserve as much cash as possible says Brent.
With the release of their unaudited interim results for the six months ended 29 February 2020, Premier Fishing and Brands CFO Brent Robertson said that the company is financially stable with no debt and that it remains cash positive, despite the impact of Covid-19.
However, Brent says that the group has been looking to preserve as much cash as possible until the pandemic is under control. “Only once the Covid-19 pandemic is under control, will we then actively continue to pursue potential acquisitions.”
That said, he adds that Premier Fishing and Brands will always be on the lookout for potential acquisitions, as the group remains keen to grow acquisitively. “Strategically, any acquisitions will have to be for the right reasons, to combine revenue and cost synergies, and must be at the right time.”
Brent says acquisitions of financially distressed fishing companies, especially during this Covid-19 period are also possibilities, so that Premier could serve as a support structure for these companies and assist with job preservation and value creation in the industry.