February 27, 2020
While news channels have been fraught with COVID-19 (novel coronavirus) coverage and its rippling effect on global economies, Pental has emerged in the media defying the odds. With robust financial postings, and warm-hearted good news stories, we’re excited to share what the news has being saying about Pental.
Covered in The Australian, The Australian Financial Review and Shepparton News, the Shepparton Pental plant has been working overtime to meet an exponential increase in demand from China. As a result of the novel coronavirus, hygiene and cleanliness products have skyrocketed to the top of the priority list globally, resulting in a forecasted multi-million-dollar swell.
Pental has also developed a White King Disinfectant spray and a Country Life anti-bacterial hand cleaner, of which production will begin next month for shipping to China.
To complement these results, Pental has also begun talks to forge exports into the Philippines, Thailand, South Korea and Vietnam.
Covered in The Australian and Australian Financial Review, the discount wars dominating supermarkets are a core consideration for Pental’s continued growth. Chief Executive, Charlie McLeish commented, ‘[it’s] just part of doing business, heavy price promotion. You just have to accept it and play in that sphere.’
While the business of supermarket FMCG is competitive, it’s clear that Pental play a hard game, with a 2.57 per cent lift in half-year net profit to $1.47m, as sales for the period rose 15 per cent.
This has been driven by a focus on promotions that maintained sustainable margins, paired with an expansion into new outlets, including Target and Coles Express.
To ensure Pental’s continued momentum, maintaining an export strategy and being tactical in promotional spend will be vital. Having forged a partnership with sales and marketing company, The Export Group, and continuing to plan strategic marketing at retailers locally, we are confident in Pental’s continued growth into the next quarter.