Pleass Global Ltd (PGL), the bottler of well-known water brands such as Aquasafe and VaiWai, is projecting an optimistic outlook for 2025 following what the chairman, Warwick Pleass, described as a record-breaking performance last year. During the recent annual general meeting, Pleass emphasized the tremendous growth the company experienced, reporting a pre-tax profit of $6.05 million in 2024, which marked a seven percent increase from the previous year’s profit of $5.6 million.
The company’s revenue also saw significant growth, rising 20 percent to $26.4 million in 2024 compared to $21.9 million in 2023. Earnings per share reflected an eight percent increase, signaling robust financial health. Notably, the company’s share price surged by 148 percent over the financial year 2024, a development that Pleass previously indicated should reflect the company’s underlying value.
Pleass has encouraged shareholders to maintain their confidence, asserting that the share price remains below the true value of the business, currently trading at $7.94. He highlighted that PGL achieved the highest market return in 2024 compared to other entities listed on the South Pacific Stock Exchange, reinforcing the company’s strong market position.
The performance is buoyed by a robust brand portfolio, including premium products that resonate well in the marketplace. PGL is also setting the stage for future success with multiple ongoing projects focused on enhancing quality, capacity, and efficiency, aimed at ultimately increasing sales and profit.
In light of current trends and consumer preferences shifting towards sustainability and ethical practices, PGL’s commitment to these values is an added dimension to its growth strategy. The company is committed to investing in operations that will not only meet increasing demand but also align with modern consumer expectations.
The outlook for Pleass Global Ltd is hopeful and appears to be one where the combination of strong financials and strategic planning sets the stage for continued success in the coming years, positioning the company favorably in the competitive Fijian market.
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