Pleass Global Ltd (PBP), a prominent water bottler based in Namosi, Fiji, has delivered impressive financial results for the fiscal year ending December 31, 2024, reporting a net profit after tax of $5.819 million. This marks a 14 percent rise compared to the previous year, showcasing the company’s resilient growth despite challenges facing the manufacturing sector in Fiji. The company also noted a significant 20 percent increase in operating revenue, reaching $26.395 million in 2024, up from $21.943 million in 2023.
The board declared a final interim dividend of 11 cents per share, in addition to a previously issued five cents per share dividend paid in August 2023. This elevates the total dividend payout to 16 cents per share for 2024, a notable increase from 10 cents the previous year.
Chairman Warwick Pleass commended the management team’s efforts in overcoming challenges and optimizing plant utilization to achieve higher profits. “2024 was another year in our continued growth,” he noted, emphasizing the company’s positive trajectory. He also expressed optimism for 2025, citing strong sales forecasts and ongoing initiatives to enhance operational efficiencies.
The company’s performance is buoyed by its brand portfolio, which includes VaiWai® Natural Artesian Water and AquaSafe® Natural Artesian Water. With a gross profit of $17.61 million in 2024 compared to $14.254 million in 2023, Pleass Global Ltd is clearly positioned for continued growth.
In a further reflection of its operational improvements, PBP’s net profit, when adjusted for changes in the fair value of investment property and one-off tax benefits, increased by 14 percent year over year. This supports the view that the company is not only navigating current challenges but also enhancing its performance over time.
PBP shares are currently trading at $7.94 each, indicating investor confidence in the company’s financial stability and growth potential. Looking ahead, Pleass Global Ltd’s strategic investments and increasing dividend payouts highlight a commitment to maximizing shareholder value and adapting to market dynamics.
Overall, the financial results paint an optimistic picture of Pleass Global Ltd, suggesting that the company is well-equipped to meet future demands while rewarding its stakeholders.
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