Slide 1: Joyce Corporation Ltd Information handout
Joyce Corporation Ltd since 1886 For personal use only Joyce Corporation Ltd Information handout December 2010 1
Slide 2: Joyce Corp Brief Overview
Joyce Corp Brief Overview o Joyce is listed on the Australian Securities Exchange as For personal use only “JYC”. o Joyce's business has links back to 1886. An Australian company with history in excess of 124 years. o Joyce was originally a leading manufacturer of Bedding, Furniture and Foam product
Slide 3: Joyce cont..
For personal use only Joyce cont.. o Joyce retains an 4.2 hectare industrial property on the Georges River at Moorebank NSW, currently dealt with as an investment Property in our books as a result of the Joyce Foam manufacturing divestment. o Joyce Corporation Ltd owns 100% of Bedshed Franchising Pt
Slide 4: Solid Position – Current Ratio
Solid Position – Current Ratio • After sale of the QLD Brendale Industrial Property in Sept 2010 for $7.5M. This asset has been shown in Current Assets and the bank loans shown For personal use only as Current Liability. But with the sale, this will be adjusted accordingly to cash and deferred loan
Slide 5: Property Information
Property Information Liverpool For personal use only 5-9 Bridges Road, MOOREBANK, NSW Total area 4.2 hectares Gross Lettable Area of 19,865 Sq. m. Valuation report $11.04 million, based on current subsidised lease conditions that cease at expiration of current lease term in Nov 2015. Valuation repor
Slide 6: Joyce Corp Revenue
For personal use only Joyce Corp Revenue $A 6
Slide 7: Bedshed Retail Outlets
For personal use only Bedshed Retail Outlets T The Company currently owns 100% of Bedshed Franchising Pty Ltd. Information handout November 2010. By Executive Director Anthony Mankarios 7
Slide 8: Vision Statement
Vision Statement For personal use only “By 2015 Bedshed will be the most successful specialist bedroom franchise in Australia.” We anticipate that a potential 60-80 stores are possible around Australia with our proven robust model. 8
Slide 9: Mission Statement
Mission Statement For personal use only “We will add value by proactively working with our franchise and business partners. To offer customers value for money products and services in convenient locations. At all times we will act with integrity and transparency, whilst developing our people to prov
Slide 10: Bedshed Current Store Details
Bedshed Current Store Details Regional For personal use only •Mackay Regional •Townsville •Albany •Bunbury •Busselton Metropolitan •Kalgoorlie •Aspley •Bundall •Fortitude Valley •Helensvale •Kawana •Macgregor QLD •Morayfield WA 9 17 1 Regional SA •Mittagong •Warners Bay Metropolitan •Beckenham NSW 2
Slide 11: Network – National Sales Performance
Network –National Sales Performance Bedshed “Total Network Written Sales” Average Growth of 13.11% pa over last 4 years. For personal use only $Millions 11 Year
Slide 12: Large Range of Big Australian Brand Bedding
Large Range of Big Australian Brand Bedding For personal use only 12
Slide 13: Unique Bedshed Features
Unique Bedshed Features For personal use only o Bedshed has a robust business model o With large open plan layouts o Easy parking o Convenient locations o Same day availability 13
Slide 14: Re-structuring progressing well
For personal use only Re-structuring progressing well o Company owned stores in less than optimal locations now closed or set to close soon. (Elizabeth SA, Cranbourne VIC, Waurn Ponds VIC, Clarkson WA.) o Senior experienced management with focus on retail profit growth. o New Multi-store Franchise d
Slide 15: Capital Structure
Capital Structure • Total Ordinary listed shares currently on issue 20,321,623 For personal use only • Unlisted Convertible Notes ( $1/ par value) 2,180,000 • Net Assets (as at 30th June 2010) $15,691,000 • Net Tangible Assets (as at 30th June 2010) $5,466,000 • Net assets per share (as at 30th June
Slide 16: Capital Raising
For personal use only Capital Raising o To ensure a secure future, a total of $2.18 Million is being raised for working capital purposes and to take advantage of future opportunities. o Convertible Notes pay 8% pa for maximum 5 years. ( face value redeemable after 5 years: assuming non-conversion.)
Slide 17: Balance Sheet
Balance Sheet oBank debt has been reduced to management For personal use only expectations and gearing is 55% at 30 Sep 2010. If one takes account of the valuations on our remaining investment property held at Moorebank based on a full commercial rent basis gearing ratio is approx 47% (after includi
Slide 18: Dividend Policy
For personal use only Dividend Policy • Joyce Corporation declared Board Policy : “ To pay at least 50% of its earnings in Dividends each year, cash flow permitting.” • JYC has a solid track record of paying Dividends and will look to re-commence Dividend payments again subject to the improved outlo
Slide 19: Dividend Plan
For personal use only Dividend Plan Joyce Corporation Dividends Potential 2010 F2011 Increase $ $ % 0.02 AUD 0.02-0.03AUD Up to 50% 19
Slide 20: Top shareholders as at 30/6/10
Top 20 shareholders as at 30/6/10 Ordinary Shareholder Ordinary Shares % ADAMIC PTY LTD ‐ 3,781,905 18.61 For personal use only PEDUNCLE PTY LTD ‐ 2,967,728 14.60 UFBA PTY LTD ‐ 1,516,500 7.46 WALLBAY PTY LTD ‐ 996,086 4.9 MR DONALD TEO ‐ 990,000 4.87 TRAFALGAR PLACE NOMINEES ‐ 723,567 3.56 PARKS AU
Slide 21: For Further Information
For personal use only For Further Information Chairman Executive Director Mr. Dan Smetana Mr. Anthony Mankarios Company Secretary Mr. Keith Gray Phone: +61 8 9445 1055 Fax: +61 8 9445 1011 14 Collingwood St Osborne Park WA 6017 21
Slide 22: Disclaimer
Disclaimer For personal use only Information contained in this presentation may involve forward looking statements. Possible future performance estimates, estimated earnings, potential growth of the company or its industry or other projections. Actual results may differ from those expressed or impli