Search

World is their oyster in Balcatta

IF THERE was a prize for the most gutsy little company in Australia, it should go to Balcatta-based Atlas Pacific. If you want to talk high risk, try pearl farming in Indonesia. Atlas has its hatcheries on Waigeo Island at the extreme western tip of Papua (formerly Irian Jaya), 2000 km from Jakarta.

The nearest town is the regional capital of Sorong some 82 nautical miles away. Just the sort of pollution free spot, well away from all the violence, to lease 2,500 hectares of water capable of supporting one million oysters.

However, In the early hours of October 25 last year, the pearl farm was raided by armed thieves.

The senior Indonesian manager was shot and killed and another employee wounded. According to the managing director, Lucian Peterson, the company considered giving up. Instead, it has doubled security and carried on.

Throughout all of this, Atlas has continued hatching pinctada maxima oysters which produce South Sea pearls. Last year, the yield from the oysters doubled with 48,443 pearls sold in Sydney to mainly Japanese buyers. The company has projected net profits to increase from $2.5 million last year to $7.7 million in 2004-based on the crop cycle. Atlas shares, which remarkably have a NASDAQ listing, are thinly traded at 20c, valuing the company at $11 million. Not one for the super fund perhaps, but trading on a forward multiple of less than two-times earnings, they could prove a pearl of an investment.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byCBH Group

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
246thQuestus41%-9%
518thAtlas Pearls and Perfumes-8%-10%
624thCVCheck-24%0%
785thThe Agency Group Australia-65%-4%
827thServtech Global Holdings-87%0%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

28/11/16
$25k Issued
28/11/16
$23k Issued
16/09/16
$8k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

73rd↓Atlas Pearls and Perfumes$18.2m
82nd-Servtech Global Holdings$10.7m
83rd↓CVCheck$10.5m
85th↓Questus$10.2m
86th↑The Agency Group Australia$9.6m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Atlas Pearls and Perfumes

360thPierre Fallourd$328k
1018thGeoff Newman$78k
1188thTim Martin$50k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer