SPC Global managing director Robert Iervasi has moved to reassure investors after a recent decline in the Australian food and beverage company’s share price.
In a statement, Iervasi said the company’s “strong” fundamentals and “strategic initiatives” positions the business for “long-term growth”.
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In October, Australia’s The Original Juice Company (OJC), SPC Global and powdered milk business Nature One Dairy merged to create a newly listed SPC Global.
The company listed on the ASX on 17 December but its share price has fallen from around A$1.31 ($0.82) to A$0.79 since then.
In a letter to shareholders filed on the ASX on Thursday (6 February), Iervasi said: “While we acknowledge the recent share price movement, it’s important to highlight short-term market dynamics, rather than any underlying shift in our operational or financial performance.”
Iervasi said SPC had “observed continued selling pressure from one non-founding shareholder”, which “likely influenced the share price short-term”.
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By GlobalDataHe added: “We remain focused on executing our growth strategy, driving operational efficiencies and enhancing long-term shareholder value.”
Last month, SPC Global signed a ten-year exclusivity agreement to supply Nature One Dairy’s products to the Mannings health and beauty network in Hong Kong.
This deal is expected to generate A$250m in revenue over the agreement’s term, SPC said.
Iervasi said the company is “still in the early stages” and added: “The progress we’ve made made so far supports the strategic rationale and benefits of this merger.”
SPC Global is projected to generate more than A$400m in revenue and exceed A$29m in EBITDA for financial year 2025.
