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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news