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HARRIS TECHNOLOGY GROUP LIMITED — AGM Information 2015
Nov 9, 2015
65074_rns_2015-11-09_586534fa-329d-4265-9120-5e51bc815114.pdf
AGM Information
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Shoply Limited - ASX: SHP
10 November 2015
ASX and Media Release
2015 Annual General Meeting – Chairman’s Address to Shareholders
Good morning. My name is Andrew Plympton, and I am the Chairman of Shoply Limited. On behalf of the Company, I welcome you to Shoply’s 2015 Annual General Meeting. I would like to take this opportunity to address shareholders on the Company’s activities and progress during the financial year ended 30 June 2015.
The 2015 financial year represented a period of significant growth and strategic achievement for the Shoply Group, during which we fortified our foundations as a newly established online retailer and achieved significant growth across key operational and financial metrics.
With the help of a strengthened management team which worked to drive organic and acquisitive growth, Shoply realised a market position as Australia’s only listed independent fixed price retailer and evolved to take advantage of the increasing desire of consumers seeking the convenience of purchasing online.
Notwithstanding the outstanding progress that Shoply made during the year, it also faced a multitude of challenges arising from its newly acquired business Your Home Depot (YHD). There are risks inherent in purchasing a business and integrating it with existing operations. In the case of YHD, a number of these risks materialised despite the implementation of comprehensive due diligence processes. Although the performance of the YHD business during the year did not align with our initial expectations, our subsequent acquisitions of the Warcom and eStore businesses have served to validate our instincts as these businesses continue to be worthwhile and important contributors to the Group.
During the year, management and the Board undertook a strategic review of the Group’s business operations with a particular focus on YHD. A number of measures aimed at enhancing performance were implemented including repositioning the YHD online store as a semi-premium retailer and expanding product ranges. Recent performance demonstrates that these initiatives are effective, and the Board is optimistic that whilst FY15 proved to be a difficult transitional phase for Shoply, it has paved the way for an optimistic FY16 outlook.
On the back of foundation investments made during the financial year, Shoply has become a growing online retailer with solid fundamentals to support a near break-even organisation in the 2016 financial year and a profitable Company in the 2017 financial year.
I would like to thank all shareholders for their continued confidence in the Company, and thank my fellow board members and all of the Company’s management, staff and contractors for their efforts over the year.
-ENDS
Shoply Limited ACN 085 545 973
Level 1, 61 Spring Street Melbourne VIC 3000
W: www.shoply.com.au E: [email protected]
T+ 613 9286 7500 F+ 613 9662 1472
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For further information contact:
Alyn Tai Company Secretary Shoply Limited T: +61 3 9286 7502 E: [email protected]
Andrew Plympton Chairman Shoply Limited T + 61 3 9286 7555 E: [email protected]
About Shoply Limited
Shoply’s objective is to be a leading ASX listed online shopping company. Shoply is rapidly executing a dual, organic and acquisitive growth strategy, acquiring or creating positions in attractive retail categories.
Shoply Limited ACN 085 545 973
Level 1, 61 Spring Street Melbourne VIC 3000
W: www.shoply.com.au E: [email protected]
T+ 613 9286 7500 F+ 613 9662 1472