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

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news