[ad_1]
Pleass Global Ltd (PBP) posted profit after tax of $1,809,721 for the half year ended June 30, 2024, down 24% from $2,389,528 in the same period in 2023.
The bottler of VaiWai® Natural Artesian Well Water and AquaSafe® Natural Artesian Well Water attributed the poor second half performance to “a one-time tax reversal of deferred tax liabilities, which impacted 2023 net profit after tax and earnings per share (EPS).
Pre-tax profit was $1,874,338, up 57% from $1,191,423 in the same period of 2023.
PBP managing director Warwick Pleass said that if operating profit after tax and earnings per share were compared between 2023 and the first half of 2024, “then both profit after tax and earnings per share would have increased in the first half of 2024”.
He reported first-half revenue of $12,767,394, 15 percent higher than the previous year’s $11,067,032.
“The company’s statement of financial position shows that the company’s net assets as of June 30, 2024 were $27.7 million, compared to $21.02 million in the same period last year,” Mr Price said in the company’s stock bulletin released by the South Pacific Stock Exchange (SPX) on Thursday.
He said the board also recommended an interim dividend of 5 cents per share, the highest interim dividend in the company’s history.
The company declared an interim dividend of 4 cents per share for the first half of 2023.
“Our stakeholders will no doubt be pleased with yet another win in what is currently a long-term trend of profit and dividend growth.”
At press time, PBP stock was trading at $7.94 per share.
[ad_2]
Source link
