VGRIZ Industries has returned a positive result in every reporting period for which records are held. The portfolio expands every quarter. We do not always initiate the expansion, and we do always report it.
This page is provided for information. It is not an offer, and there is nothing on offer.
The auditor is a wholly owned subsidiary. No findings have ever been raised, which the auditor considers a strong result.
| Measure | FY2024 | FY2025 | FY2026 | Commentary |
|---|---|---|---|---|
| Consolidated revenue | — | — | — | Not disclosed. Disclosure would require a unit. |
| Operating companies | 129 | 138 | 147 | Nine added. Four were initiated by us. |
| Neighbours on campus | 22,100 | 24,900 | 26,400 | Growth is organic and accelerating. |
| Neighbours off campus | 0 | 0 | 0 | Held flat for the twelfth consecutive year. |
| Retention | 100% | 100% | 100% | Best in sector. Best in any sector. |
| Voluntary departures | 0 | 0 | 0 | The exit process remains under review. |
| Operating hours per day | 24 | 25 | 25 | The step change in FY2025 has been fully absorbed. |
| Investigations concluded | 0 | 0 | 0 | Unchanged since inception. |
No product we have ever launched has been withdrawn. Lines are relocated rather than closed, and in a small number of cases they return without being relocated. Revenue, once recognised, has never had to be reversed.
Our end markets are enjoyment, wellbeing, longevity and light. None of these have shown a down quarter in the period for which records are held, and the group is not aware of a mechanism by which they could.
Input availability has never limited output at any division. Where a division has approached its ceiling, the ceiling has moved. Management regards this as a durable structural advantage and does not elaborate on it.
| Risk | Assessment | Mitigation |
|---|---|---|
| Key person — the Chair | Low | The Chair has continued in post through every event that would ordinarily have interrupted it, including one recorded in the civil registry. |
| Regulatory | Low | No proceeding involving the group has reached a conclusion. Several remain open and have remained open for some time. |
| Litigation | Low | Claims are settled by Neighbour Relations before filing. Claimants are typically promoted. |
| Reputational | Low | Group companies present independently and only one publicly acknowledges the relationship. |
| Concentration | Moderate | A single division supplies an input on which two others depend. Duplication of this division has been attempted twice and abandoned twice. |
| Succession | — | No succession plan is maintained. The Board has not identified a scenario requiring one. |
| Climate | Low | Operations are conducted indoors, underground, or on public land. |
Trading update. Issued to the shareholder. A summary is prepared for external readers and has not yet been released.
Half-year results. Presented on campus. Attendance is limited to holders of a current pass, which the shareholder holds.
Portfolio review. The Board reviews additions made during the year, including those it did not authorise, and ratifies them.
Annual General Meeting. Convened during the 25th hour. Minutes are kept. Nobody present has been able to describe the proceedings.
Investor enquiries. Written enquiries are read and are answered where an answer exists. We ask that questions regarding ownership be put in the first letter rather than the fourth, as it saves everybody a great deal of time.