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Pleass Global Considers Strategic Investor Approach

Pleass Global Limited announced it has been approached by a strategic investor and was considering a limited private placement of shares to this party. No further details have been revealed
14 Nov 2015 10:30
Pleass Global Considers Strategic Investor Approach

Pleass Global Limited announced it has been approached by a strategic investor and was considering a limited private placement of shares to this party.

No further details have been revealed and Pleass Global chairman, Warwick Pleass, said shareholders would be provided all necessary information in due course.

He further said they would provide proper notice and opportunity for shareholders to consider before any transaction occurs.

Pleass Global also announced 16 per cent increase in Earnings Before Tax for its year to date unaudited financials up to October.

It recorded Earnings Before of $780,741 (unaudited), compared to $671,771 for the same period in 2014.

The improved performance was attributed to sales growth (13 per cent higher than the corresponding period in 2014) and new machinery.

Mr Pleass, said: “Despite the extraordinarily cold and wet weather of the past six months, water sales were surprisingly strong and provided the company with most of its revenue increase.

“October brought 2015’s highest monthly sales, second highest monthly revenue ever and 12.1 per cent more than October 2014.

“Our sales of ‘rising star’ product VaiWai® Natural Artesian Water are 149 per cent more than the same period last year.

“Even Kila Eco Adventure Park sales are over 100% higher than last year, due to increased numbers of visitors to the park.”

 

Going forward

Looking forward, Mr Pleass is confident of even better performance and returns.

“The company has invested in new production equipment allowing the overall production outputs and efficiency to increase by up to 100 per cent for some bottle sizes,” he said.

“These increased speeds and efficiency have reduced our costs of production, allowing the company to offer promotional pricing, which in turn is pushing sales to new heights.

“The company’s order books have never been healthier.”

 

Interim dividend

Meanwhile, the Pleass Global has declared an interim dividend of $0.02 per share to its shareholders for the current year 2015.

This is the result of the company’s continued growth and improved year to date profit

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