INDEPENDENT NEWS

Trilogy flags return to profit in first half

Published: Thu 18 Sep 2014 01:11 PM
Trilogy flags return to profit in first half on Australian sales
By Suze Metherell
Sept. 18 (BusinessDesk) - Trilogy International, the skincare and scented candle company, expects to return to profit in the first half of its financial year as Australian sales pick up.
Net profit is expected to be $860,000 in the six months ending Sept. 30, from a loss of $269,000 a year earlier, the Auckland-based company said in a statement. Sales will rise 11 percent to $15 million, it said.
The company, which is 49 percent owned by The Bakery Business, changed its name from Ecoya to Trilogy in June last year to reflect the growing dominance of the skincare brand. Ecoya bought Trilogy in 2010 for some $19.2 million, with $10 million upfront and $9.2 million in cash and scrip based on earn-out targets.
In July the company appointed Australian distributor McPherson's Consumer Products and its goods are now sold in independent pharmacies and major retail chains such as Priceline and Chemist Warehouse. The company earns 82 percent of its revenue from the Australian and New Zealand markets.
In the six months, the Ecoya brand candle unit probably boosted sales 9 percent, and is expected to be "just above breakeven", from a loss of $700,000 the previous year. Its Trilogy skincare brand is seen increasing Australian sales 24 percent and is expected to exceed budget, the company said.
Trilogy said it will provide an overview of the 2014 year and more detail on the first half at its annual general meeting in Auckland on Sept. 23.
Shares of the company were unchanged at 66 cents, and have gained 1.5 percent since the start of the year.
(BusinessDesk)
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
Contact BusinessDesk
Email:

Next in Business, Science, and Tech

KiwiRail strike notices withdrawn following new offer
By: Rail And Maritime Transport Union
Stress Tests Show Strengthening Bank Resilience
By: Reserve Bank
Building Activity Down In September Quarter
By: Statistics New Zealand
Deputy Governor Reflects On Time At RBNZ
By: Reserve Bank
Data Reveals ICT Expenditure Key To Small Business Sales Growth
By: Xero
Fonterra Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update
By: Fonterra
Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts
By: Canterbury Museum
View as: DESKTOP | MOBILE © Scoop Media