Built around a reputation of delivering quality, innovation and sustainability to the satisfaction of customer needs, Australia and New Zealand’s consumer powerhouse Pental Limited (ASX:PTL) aims to be a leading supplier of shelf stable products. PTL is a manufacturer and distributor of a range of home care and personal care products that have been trusted by families for generations.
On 6 April 2020, PTL was amongst the hot stocks on the ASX as it zoomed by 8.642% and settled at $ 0.44, after the Company released a significant announcement about a management and Board improvisation.
PTL Appoints Current CEO as MD
On 6 April 2020, PTL notified that it has appointed its current Chief Executive Officer Mr. Charlie McLeish as the Company’s new Managing Director. Despite this change, Mr McLeish’s employment terms and conditions, including remuneration, have not changed.
Pleased with the new appointment, Chairman Mark Hardgrave’s expressed the Board’s delight and said that the Company is in safe hands as the appointment reflects Mr McLeish’s outstanding leadership in a time of global turmoil. Mr Hardgrave is also a relatively new appointment and replaced Peter Robinson in November 2019.
Acquainting With PTL’s New MD- Charlie McLeish
Mr McLeish was appointed as General Manager of Pental in May 2011. On 1 January 2014, he became the Chief Executive Officer (CEO). He is believed to have led the Company through challenging circumstances and market conditions, including the ongoing COVID 19 pandemic.
He has a broad experience with proven turnaround capabilities in the fields of sales, marketing, manufacturing and logistics.
In the AGM address last year, Mr McLeish and his team were acknowledged and appreciated for delivering fantastic 2019 results for Pental. FY19 witnessed aggressive competition and price cutting in Australia’s consumer goods market. However bleak the situation, PTL continued investing in marketing, expanded its distribution business, doubled down on its brand consolidation strategy and deployed price matching initiatives in key categories and segments to register sales growth in branded bleach, cleaners and firelighters.
Prior to PTL, Mr McLeish spent more than three decades in the Fast-Moving Consumer Goods (FMCG) industry, which included two decades in managing key bakeries within Bunge Australia (Goodman Fielder) focusing on Business Turnaround. Post this, he spent 15 years at George Weston Foods serving as General Manager of Tip Top Bakeries Victoria. In this role, he implemented the business turnaround from negative EBIT worth $ 6 million to positive EBIT of $ 12 million, in merely eight years.
He then went on to become the National Sales Director of Don Smallgoods.
Some Pental Facts
PTL is active in developing new products to grow market share and building strong, ongoing relationships with our customers and suppliers. Let us cast an eye over a few facts-
- Pental products are efficient, and quality tested to help families live better.
- The iconic brand portfolio is made up of Velvet, Martha's, Huggie, Natural Selections, White King, Janola, Duracell, Sunlight, Softly, Country Life, Pears, LUX, Little Lucifer and Jiffy.
- PTL has a Contract Manufacturing division that produces to company specifications for private label or store brands.
- The manufacturing facility is located in Shepparton, north of Melbourne which can operate continuously.
- The Company has been supplying the hotel industry for over two decades and currently manufactures customised Hotel Soap for a variety of hotels, motels and resort chains.
- PTL’s services include marketing & sales, warehousing & logistics and financial administration.
- It was listed on the ASX in August 2000.
Pental’s HY20 Highlights
PTL released its stable interim performance for HY20 (the half year ended 29 December 2019). Its performance was bolstered by positive Australian and New Zealand sales figures despite a tough retail environment in Australia.
Net Sales Revenue was up by 15.1% and amounted to $ 55.2 million relative to the prior corresponding period (pcp), majorly catalysed by distribution agreements. The EBIT was $ 2.2 million, up by 6.2% on pcp whereas NPAT was registered at $ 1.4 million, up by 2.6% on pcp.
The Company’s EPS was 1.08 cents, and it also declared an interim fully franked dividend of 0.70 cps which was paid to shareholders on 25 March 2020.
For more details on the HY20 performance, PLEASE READ- Pental’s Robust HY20 Results- Increased Sales, Strong Exports, Retail Expansions!
PTL closed at $0.400 on 7 April 2020.
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