Date: February 19, 2019
Pulse Investments Limited’s (PULS) AGM was held on February 19, 2019, and hosted by Mr. Kingsley Cooper, Chairman of the said company. The meeting began with the usual welcoming and introductions which was subsequently followed by the independent auditor’s report.
For the financial year under review, Mr. Cooper highlighted that, “Overall revenues moved from $488M in 2017 to $608M in 2018, by 24.3% while profits before taxation went up by 28.6% to $345.2M to $268.4M. It should be noted that a deferred taxation amount of $43.3M was charged to profits in the current year, as against a deferred tax gain of $8.4M in 2017.” All the company’s lines of business (with the exception of ticket sales) recorded gains, including rental income, model agency and sponsorship.”
The company has diversified its source of income as it expands its business into real estate. Currently the company has completed a 22 rooms development for accommodations at 38a Trafalgar Road, along with the guest suites at the Villa Ronai (20 of 68 rooms have been ready since December 2018). “These new establishments are expected to significantly boost the company’s annual revenue base,” according to management. Ms. Safia Cooper, Chief Executive Officer (CEO) responsible for Hospitality, Leisure and Entertainment, mentioned that there is high expectation for full occupancy for the upcoming events namely the Buju Concert, Boys and Girls Champs and Carnival. Booking agencies such as ‘Expedia’ or ‘Booking.com’ are the mediums used to adequately market the product offerings to the general public.
Furthermore, Mr. Cooper stated, “Rental Income moved from $47.6M in prior year to $59.5M in the current year. With the continued success of Alicia Burke and other Pulse stars such as Jeneil Williams, as well as a slew of new Pulse talent, revenues in this category of business potential business are expected to continue to grow.” The Pulse Schools Model Search which began in 2018 has unearthed many model prospects and is expected to grow from the current 40 schools to more than 100.
Outlook
• Completion of Phases 1&2 of the Suites at the Villa Ronai
• Development of town houses (Pulse Homes)
• Launch of TV show in Africa
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