ASC 6.67% 1.6¢ limited

As Adultshop knows sex sells

  1. 415 Posts.
    Daily Planet plans to float - probably will not be any compatition for adult shop but maybe if this float does go ahead they can form an new index on the ASX

    MELBOURNE, July 22 AAP - The popularity and profitability of sex
    could eventually turn one of Australia's best known brothels into
    the biggest adult products company in the world.
    In what is believed to be a world-first, The Daily Planet Ltd in
    Melbourne today announced it was going public, hoping to raise $12
    million from private investors and eventually list on the
    Australian Stock Exchange (ASX).
    As sharemarkets around the world sag, Daily Planet director
    Andrew Harris was confident that if one thing could stand up it was
    the sex industry.
    "Because the old saying that sex sells is so true, because the
    adult industry is so massively popular and profitable, we believe
    the opportunities are unlimited," Mr Harris told reporters.
    "The profits in this industry are so high.
    "This place (The Daily Planet `gentlemen's club') makes profits
    of up around 60 per cent. Most of the adult industry makes 60 per
    cent profit which means you can pay huge dividends to investors."
    Mr Harris said the directors of The Daily Planet wanted to
    expand to Sydney, build up to become a broader adult products
    company and then move into overseas markets in about two years.
    "We are absolutely determined to make ourselves the biggest
    adult company in the world," he said.
    The Daily Planet wanted to embrace adult products, table-top
    dancing clubs, "conservative cabarets with strippers", and
    large-scale restaurants with "a tinge" of adult entertainment.
    "Anything to do with entertaining anyone over 18 years is what
    we're going to go for," Mr Harris said.
    Mr Harris said The Daily Planet aimed to be "a fun share",
    contrasting with the current gloom among other stocks.
    The Daily Planet intends to initially issue 12,000 shares worth
    $1,000 each to show that it is a viable trading entity.
    The company was forecasting a secure fully franked return of
    5.90 per cent a year, averaged over the next 10 years.
    Mr Harris said the capital would be used to pay off $2.7 million
    in debt from the refurbishment of The Daily Planet premises in
    Elsternwick, to create a $1 million trust to secure the dividend,
    and for expansion.
    The company would seek to raise around $50 million to list on the ASX.
    "I was asked who is likely to invest and, ironically, retirees
    will probably invest because where else can you put your money,
    bank guaranteed, and get a five per cent fully franked dividend,"
    Mr Harris said. AAP
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Currently unlisted public company.

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