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

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: