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.