PLEASS Global Ltd (PGL), bottlers of water brands such as Aquasafe and VaiWai is looking at a “promising” 2025 after yet another record-breaking performance last year. This was part of the message imparted to shareholders by PGL chairman Warwick Pleass during their annual general meeting last week.
“We have now completed four months of 2025, and the year looks very promising with numerous projects in progress aimed at enhancing quality, capacity, efficiency, and ultimately increasing sales and profit,” Mr Pleass said.
PGL is listed on the South Pacific Stock Exchange (SPX) and recorded a pre-tax profit of $6.05million in 2024, up seven per cent from $5.6m in 2023.
This was on the back of $26.4m in revenue, a 20per cent growth from $21.9m in 2023.
Earnings per share increased by eight per cent while share price, previously a point of contention raised by Mr Pleass, who believed it should be higher to reflect the company’s robust performance, increased by 148per cent during its 2024 financial year.
“It is pleasing to see the share price rise through 2024 and quite dramatically in the first few months,” he said.
“I take this opportunity to put on the record yet again to shareholders my belief that even with trading at around $8, the company share price continues to trade well below the true underlying value of the business.
“I again encourage shareholders to maintain their confidence in the business and its future.
“PGL achieved the highest market return in 2024 among entities listed on the South Pacific Stock Exchange”.
PGL, listed as PBP on SPX, last traded at $7.94 when this edition went to press.
