ARTESIAN water bottler and exporter Pleass Gobal Ltd (PBP on SPX) has reported another good year for shareholders posting a net profit after tax of $5.819million for its financial year ended December 31, 2024. The Namosi-based company is listed on the South Pacific Stock Exchange (SPX) and this week released its 2024 financials, which saw a 20 percent increase in operating revenue and an after tax growth of 14 percent.
The company also declared a final interim dividend of 11 cents a share in addition to a five cents a share dividend paid out in August last year. This brought its total dividend to 16cents a share in 2024 compared to 10cents a share in 2023.
Chairman Warwick Pleass said: “2024 was another year in our continued growth. The management dealt with many challenges, most of which are constricting the entire manufacturing sector in Fiji.
The sales growth in 2024 was possible by our improved plant utilisation and that brought the improved profit. It was a remarkable year for PGL and shareholders can expect more good news in 2025 and onwards”.
PBP is the bottler of brands such as VaiWai® Natural Artesian Water and AquaSafe® Natural Artesian Water.
Its turnover in 2024 was $26.395m compared to $21.943m in 2023; gross profit was $17.61m in 2024 compared to $14.254m in 2023. Net profit after tax was $5.819m in 2024 compared to $6.873 in 2023, still a 14 percent increase when excluding change in fair value of investment property and one-off tax benefit in 2023, according to the company.
The company board acknowledged its people for last year’s performance.
“Thanks especially to our institutional investors that are major shareholders, FNPF and Fijian Holdings Unit Trust, for their faith in the business.
“I believe our shareholders will appreciate these achievements and how we have grown their business and their value in it.
“Dividend growth is driven by improved profits and our robust dividend policy. We are already performing well in Q1 of 2025 with strong sales forecasts through 2026,” Mr Pleass said.
PBP shares last traded at $7.94 cents a share on SPX when this edition went to press.
NOTE: This article was first published in the print edition of the Fiji Times dated MARCH 1, 2025.
