PTL has increased its interim dividend by 42.8 per cent to one cent per share.
Best feature of the result is the rise in margins. I haven't dug into it sufficiently to see if promotional spending (with supermarkets et al) has dropped somewhat from previous elevated levels but that used to be a major constraint on net profit.
To achieve sales growth of 10-11 per cent at WOW and COL, our two major supermarket chains, was great.
Increased number of retailers into which it supplies is good.
PTL remains debt free.
Increasing insurance costs are not good but hopefully its tender process will deliver a slightly better deal than anticipated.
PTL Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
