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42 Below - Beyond the IPO...
Just thought a new thread might be appropriate as the original is now eating New York and we are way beyond IPO.
We are in fact in profit, even for those who paid full IPO whack. The knockers must be spinning in the graveyard of their incorrect predictions.
Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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FTB
18/08/2004
ADDRESS
REL: 1500 HRS 42 Below Limited
ADDRESS: FTB: 42 Below AGM signals further growth and expansion
42 BELOW HOLDS FIRST AGM AS LISTED COMPANY AND SIGNALS FURTHER GROWTH AND
INTERNATIONAL EXPANSION
Auckland 18th August 2004: 42 BELOW Limited (FTB) today held it's first
Annual General Meeting as a listed company. Addresses by Chairman Grant Baker
and CEO Geoff Ross signalled further growth and accelerated international
expansion, on the back of improved sales and distribution arrangements.
In the Chairman's Address, Grant Baker said that with total revenue for the
year ended 31 March 2004 of $5.899m, 42 BELOW were able to demonstrate with
the full year's results, that they can successfully grow their revenue.
"Sales have exceeded the projections provided when we listed in October 2003.
Our sales of vodka and gin at $4.41m were an increase of $3.9m or 775% over
the prior year," he said.
Mr. Baker also said that 42 BELOW's overhead expenditure to margin ratio is
improving as sales build and markets become profitable. As an example: Prior
to listing in the year to 31 March 2003 the company incurred $5.50 of
overhead expenditure to achieve $1 of margin. At 31 March 2004 this ratio was
$2.50 to $1 margin. In the four months trading since 31 March 2004 this ratio
has improved again and $1.60 of overhead expenditure is invested to achieve
$1 of margin. "Hence our belief that we are working towards break even by the
end of this financial year," he said.
He said the new financial year was going exceedingly well with anticipated
sales revenues of more than $9.0 million for the year ending September 2004
and $12 million by the year ending March2005, surpassing prospectus revenue
projections by more than 40%.
"We expect growth to continue while being mindful of managing our working
capital prudently. We expect to move into a break-even position in the last
quarter of this financial year primarily because of the excellent margins we
make on 42 BELOW and SOUTH compared to other alcoholic beverages. We intend
to grow from our current base of 6000 cases per month, which will contribute
a margin of at least $100 per case or $600,000 per month," said Mr Baker.
As part of a review of distribution arrangements in each market 42 BELOW
announced at the meeting that it was at an advanced stage of discussions with
Australia's Carlton United Beverages (part of the Fosters Group) to sell and
distribute the 42 BELOW vodka and SOUTH Gin brands throughout Australia and
New Zealand. It also announced improvements to it's USA sales and
distribution structure following the appointment of Pearl Beverages and that
it was looking to purchase the business of Collinsville Securities Limited,
the USA direct sales organisation set up prior to 42 BELOW's listing in 2003
to develop the USA market.
"Distributor relationships like the one with Pearl Beverages and the one we
intend to enter with Carlton & United Beverages make it possible to expand
further into these markets while also allowing us to improve our margins and
our operating efficiencies as we continue to grow,' said Mr Baker.
The Chief Vodka Bloke, Geoff Ross focussed on how the company is using the
international recognition that it has created to drive export expansion.
He said that in the last year 42 BELOW have gained a truly international
recognition for their brand; winning awards at the 42nd World Selection 2004
of Spirits and Liqueurs in Brussels; the only gold medal in the liquor
category for 42 BELOW Manuka Honey Vodka in the Salon International de
L'Alimentation International Food Exhibition in Paris; and by continuing to
have a strong presence at events like the 2004 Pre Oscar Party in LA.
"We are also building international recognition for our brand among the
worlds top bartenders. In June we ran the inaugural 42 BELOW ****tail World
Cup, on an ice bar at the top of Coronet Peak, during the 30th Winter
Festival in Queenstown...The 42 BELOW ****tail World Cup was the hottest
ticket in th
Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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Well mindless, facts don't lie. If I sold my holdings now I make a tidy profit. You on the other hand still just have jacks1ht!
Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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Member
I'll have a Aussie beer........yeah right
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Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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Member
Minder you get really boring - now in stereo (on 2 threads)
who gives a toss about a few ICT cos you are raving about - 42B is already a fine NZ icon brand - and it has a bigger op than any silly det collection co ever will
build a bridge and take a nice walk over it
try underwater salvage... cos its there... somewhere... maybe...
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Preferably a short bridge and a long walk.
Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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Member
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Hmmmn - counts (admittedly paper) profits to date and laughs. I accept there is risk with this share - one that is currently paying off - but don't need to hear mindless whine on and on and on bleating about something he knows zilch about. It costs money to build a brand! But, brand payoff can be huge.
Fantasy Premier League 2006/07, 2007/08, and 2008/09 Champion :-)
"The surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." - C&H
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