PLEASS GLOBAL LIMITED 2017 AUDITED FINANCIALS AND BOARD RESOLUTION OF FINAL DIVIDEND.

Pleass Global Limited (PBP) released its audited financial statements for the year ended December 31, 2017 yesterday.

In 2017 revenue was $11,528,859, or three per cent higher than the previous year. Profit after income tax was $735,337.

This is down 22 per cent on 2016 profit. It is noted that the 2016 profit included $54,443 revaluation gain. PBP earnings per share stands at 11 cents compared to 16 cents in 2016. The company’s Statement of Financial Position shows a stronger position of $8.7 million net assets compared to $8.2 million in the same period last year.

This is six per cent growth of our net assets.

The Board resolved to recommend to the shareholders at the upcoming AGM a final dividend of $0.02 cents per share for the year ending December 31, 2017 this is in addition to the interim dividend of $0.02 per share, announced in November 2017.

The total dividend for the 2017 year would then be $0.04 per share. Company managing director Warwick Pleass said: “The result was satisfactory given the challenges the company faced in the factory and offices completion, relocation, commissioning of the new production lines, and necessary training and development of our people. “The company is now well positioned to take advantage of its new position and 2018’s many opportunities.”

The Board thanked the management and staff for the continued success of PBP.