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

 

Trilogy says first-half sales may rise 50%; shares soar

Trilogy forecasts first-half revenue will rise more than 50% to $23 mln; shares soar

By Fiona Rotherham

Aug. 3 (BusinessDesk) - Trilogy International, the skincare products and scented candle maker, said first-half revenue is likely to exceed $23 million, a year-on-year increase of more than 50 percent, following strong growth across all three of its brands.

Sales would help drive up profit to $3.5 million in the six months ending Sept. 30, from $1.1 million a year earlier, the company said. Trilogy’s shares surged on the news, trading up 21 percent to $1.15 per share.

The company, whose brands include Trilogy, Ecoya, and Goodness, announced its first dividend of 3.66 cents earlier this year after annual profit more than tripled on Australian sales growth and the first earnings from its candle brand.

Chief executive Angela Buglass said the previously outlined business strategy of investing for growth was already delivering results on both sides of the Tasman for all three brands, driven by strong consumer demand.

The Trilogy Natural Products brand was showing strong growth in the US and Asia while Ecoya was continuing to show growth in both the New Zealand and Australian markets following an improved product offering, merchandising and service levels.

The newly launched Goodness Natural Beauty Lab has met distribution targets in New Zealand and Australia in its first four months and has just secured a listing with discount department store chain Big W.

Investors will be given a further update when the company holds its annual meeting next month.

In June the company decided to relocate its 22 staff in Wellington to Auckland, a move that should be completed by early November.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>