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Steady sales lift performance

Monika Singh
Tuesday, July 26, 2016

WATER bottling company Pleass Global Ltd has attributed the financial success of the company to its steady market sales and their loyal customers.

The company released its half-year to June 2016 financial statements yesterday whereby it recorded an increase in its net profit compared with the same period last year.

The company recorded a net profit of $536,188 which is an increase against the six-month period ending June 30, 2015.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at $850,729 for the first six months of 2016 compared with $601,389 for the same period last year.

Marketing director Cate Pleass said: "We have been fortunate in achieving solid local market sales growth concurrent with export sales growth which is a very pleasing situation.

"We are indebted and grateful to our loyal and supportive customers in Fiji and abroad. Even our Kila Eco-Adventure Park visitor numbers and sales have grown by 30 per cent and we are proud of this as it is part of our corporate social responsibility program," Mrs Pleass said.

The company's earnings per share is nine cents, which is an increase compared with the 2015 half-year.

"The company is constantly innovating and working on new designs to deliver sustainability in the business.

"Our new 10L bag-in-box portable solution has seen market acceptance and growth this year."

In terms of competition, Mrs Pleass said: "The bottled water market in Fiji and abroad continues to be competitive and challenging, however, we are pleased with our results."

Chairman Warwick Pleass said: "The board and I are pleased with the progress of the company and its future projections."

He said their new factory was reaching physical completion with the services and fit-out yet to be completed.

"Like with our VaiWai Natural Artesian Water, we have placed huge emphasis on design to ensure maximum benefit from this investment."

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