Rising costs take polish off Pental

WHITE King bleach, soaps and detergents brands owner Pental is passing on rising input and freight costs after pandemic lockdowns and outbreaks in NSW and Victoria hit sales revenue.

Revenue for the half-year ended December 26 was up 3 per cent to $66.4m on “stable demand”, lower than prior Covid-period highs.

Nevertheless, net profit leapt 46.7 per cent to $4.23m and underlying earnings before interest and tax soared 78.3 per cent to $7.5m.

But input costs of $1.5m weighed on results. A higher dividend of 1.3c per share will be paid on March 23.

The online hamper business acquired last year, Hampers with Bite, was the standout for the six-month period, delivering net sales revenue of $24.9m for the four months it traded under Pental ownership.

Owned brands net sales revenue was 3.3 per cent lower at $25.9m, with strong sales in NZ offset by lower numbers in Asia, where Pental’s distributors faced pandemic disruptions and an “unpredictable political environment” between Australia and China.

Contracted brands revenue fell 59 per cent to $15.5m, hit by changes to the Duracell distributorship agreement that took effect in May.