Pure Foods Tasmania Ltd. · ASX:PFT
Pure Foods Tasmania — Shareholder Meeting (November 2024)
11 slides from Pure Foods Tasmania's shareholder meeting presentation, Nov 29, 2024
Slide 1: AGM FY 24
For personal use only AGM FY 24 Friday 29th November 2024 (ASX:PFT)
Slide 2: Who is Pure Foods Tasmania?
Who is Pure Foods Tasmania? For personal use only Pure Foods Tasmania Pty Ltd (PFT) was formed in 2015 with the aim to enhance and promote Tasmania’s food and beverage businesses. PFT’s strategy is to develop new products within its existing brands, to acquire or develop complementary brands and bus
Slide 3: Strategy
Strategy PFT’s growth strategy encompasses several key themes: For personal use only ▪ Organically grow its existing brands ▪ Improve margins and capacity via automation of its production as products and brands reach scale ▪ Secure key assets ▪ Grow via the acquisition of complementary products/busi
Slide 4: Financial Results 2023/24
Financial Results 2023/24 For personal use only Revenue fell by 23% compared to FY23, primarily due to the strategic decision to cull products where margins were challenged, including: ▪ Several unprofitable product lines at Woodbridge Smokehouse, leading to a 38% reduction in sales ▪ Revenue down b
Slide 5: Financial Results 2023/24
Financial Results 2023/24 Results for the year was a disappointing loss of $3.9m, equating to a cash loss of $2.2m, due to For personal use only several factors, including: ▪ Daly Potato orders exceeding production capacity incurring up to $1.3m loss ▪ Almost $1m write down of goodwill, of which $45
Slide 6: Response to Poor Financial Performance
Response to Poor Financial Performance From Sept 2024 For personal use only ▪ Reduced 8 overhead positions, resulting in $1.5m annual savings ▪ Company ceased production of non-profitable product lines ▪ Changed sales model from internally managed account relationships with Woolworths and Coles to B
Slide 7: Response to Poor Financial Performance
Response to Poor Financial Performance For personal use only ▪ Review of local freight logistics and pass on pricing ▪ Negotiated a fixed maximum price for fish products for 3 months giving us better control over COGS ▪ Reducing high interest loans ▪ Negotiated $228k settlement with equipment suppli
Slide 8: Outlook
Outlook For personal use only ▪ The Board believes focusing on the existing business and aligning costs and revenues to build a more sustainable business will position PFT for growth and improvement in operational performance ▪ Restructuring has enabled us to resource the business appropriately ▪ We
Slide 9: Outlook
Outlook For personal use only ▪ PFT has reduced annual operating costs by up to $2m with further savings planned for FY25 ▪ Review of all processes across whole of business ▪ Ensure the excellent workplace safety record continues ▪ Continue to aim for 100% compliance in food safety standards across
Slide 10: Our People
Our People For personal use only ▪ I am pleased to welcome the appointment of Robert Knight (Rob) to the Board of PFT as a Director. Rob has a strong background in marketing and in the retail sector ▪ On behalf of the Board, I recognise our staff for their resilience, flexibility and their willingne
Slide 11: For personal use only
This presentation has been authorised for release and approved by the Board of PFT. For further information, please contact: For personal use only Unless otherwise stated all financials results post 30 June 24 are unaudited Malcolm McAully Executive Director
Pure Foods Tasmania — Shareholder Meeting (November 2024) on 6ix