Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Trilogy shares jump 10% as annual profit soars

Trilogy shares jump 10% as annual profit soars

By Suze Metherell

May 29 (BusinessDesk) - Shares in Trilogy International jumped 10 percent after the skincare and scented candle maker's annual profit soared, having become profitable a year earlier, as revenue growth in its Ecoya candle brand offset declining sales of skincare products in Australia.

Net profit climbed to $1.07 million, or 2 cents per share, in the 12 months ended March 31 from $34,000, or 0 cents, a year earlier, the Auckland-based company said in a statement. Earnings before interest, tax, depreciation and amortisation advanced to $2.1 million from $1.3 million a year earlier. Sales rose 12 percent to $29.8 million.

The shares climbed 6 cents to 66 cents today, and have declined 7.7 percent this year.

The skincare and scented candle 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.

The company's skincare product sales, which make up 55 percent of group revenue, edged up 1.2 percent to $16.3 million as revenue from its Australian Trilogy unit dropped off. Ecoya sales lifted 27 percent to $13.5 million on growing Australian demand.

"The Australian retail environment has experienced widely publicised challenges over the past years," said chief executive Stephen Sinclair of the drop in skincare sales. "We expect Ecoya to deliver a positive profit contribution to the group during the coming financial year."

The Ecoya unit narrowed its Ebitda loss to $421,000 from $2.5 million a year earlier. The skincare unit's Ebitda fell 26 percent to $3.6 million.

Trilogy reported an operating cash inflow of $1.48 million in the year, compared to an outflow of $480,000 in 2013, leaving it with cash and equivalents of $1.19 million as at March 31.

The company said it plans to reduce net debt further in 2015. It had net debt of $3.4 million as at March 31, down from $5.5 million a year earlier.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news