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

 

Tubes: Tasman Global Access Cable Goes Live

Spark, Vodafone and Telstra have today announced the Tasman Global Access (TGA) cable is officially in service and ready to carry vast quantities of Internet traffic between New Zealand and the world. More>>

ALSO:

Theresa Does: Brexit Letter Sees NZD Touch Week-High Vs GBP On Brexit

The New Zealand dollar rose to a week-high against the British pound and euro after UK Prime Minister Theresa May officially triggered Britain's exit from the European Union. More>>

ALSO:

Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>

ALSO:

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news