Ann: Trading update, page-2

What a mostly fantastic forecast.

Despite increased COVID-19 costs and lower sales of PTL's historically 'core brands' in Australia, and growth in NZ that won't make up the lower sales in Oz as NZ is far smaller volumes, PTL has increased its margins and anticipated profit.

It's really pleasing to read about the great performance of Hampers with Bite, even though after four months under the PTL umbrella it's very early days. At one stage HwB had a courier visit who had COVID-19, meaning HwB staff had to isolate and be away from either the warehouse in Maidstone Vic or the office in Fitzroy Vic, yet seemingly no ill effects to use a bad pun.

HwB is a seasonal business but to read that it has exceeded expectations is terrific.

One hopes PTL's 'core brand' sales in Oz can slowly return back up, although population is stagnant (or in Victoria declining as people can't wait to escape the tyrant running the state).

I previously discussed how the retail price in WOW and COL of PTL's Country Life soap has just risen from $2.55 to $3.20 so this shows the cost pressures manufacturers are under, with huge delays in container shipping and rising freight costs adding to input prices for items like tallow also increasing.

The company deserves to be rerated upwards at least a bit based on today's result.

There's a brief webinar from 1500 AEDT that for 10 minutes will feature PTL, probably after 1530.

Happy Christmas to all holders as we consider the prospect of increased dividends.