Bottled water firm records revenue rise

A BOTTLED water company recorded an increase in its revenue by 15.7 per cent for its 2015 financial year compared with 18.9 per cent recorded in 2014.

Pleass Global Ltd (SPSE code PBP) noted in its 2015 annual report that its gross profit grew by 17.7 per cent compared with 20.6 per cent in 2014 with export growth again a major contributor.

It realised an after tax profit of $826,388 from operating activities.

According to the report, this is up 20 per cent on the 2014 recorded profit of $688,459 with Operating Return on Sales (OROS) was 9 per cent (8.7 per cent in 2014).

This increased earnings per share to 13.8 per cent while increasing return on equity to 14.4 per cent.

The board recommends a final dividend of 2 cents per share. Taken with the interim dividend paid in December 2015, the report showed that total dividend for the year ended 2015 would be 4 cents per share — a 33 per cent increase over 2014 dividend.

The total dividend represents a payout of about 30 per cent of the company’s profit after tax which is in line with its dividend policy.

Sustainability, it said, remained at the heart of their business model and would help them drive growth while reducing costs.

“I highlight that our food products have no calories, our tourism business is “eco” meaning minimal power or fuel is used, and our farm is organic,” said the company’s chairman Warwick Pleass in a report.

“We recycle all products that can be recycled in Fiji and we minimise our waste and carbon footprint.”

He said 2015 saw them continued to give back to their communities and supporting many community groups, with policy guiding their decisions.

“The company’s long-term strategy of investing in our future through capital expenditure plus research and development continued in 2015. I believe our shareholders seek not only dividends but also long-term growth and capital gain.”

Through the strong gains in share price in 2015, he said, they have seen PGL grow value for shareholders.

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