Trilogy International shares slump 14% on FY2017 guidance

Thursday 22 September 2016 03:28 PM

Trilogy International shares slump 14% on FY2017 guidance

By Edwin Mitson

Sept. 22 (BusinessDesk) - Shares in stock-market darling Trilogy International slumped 14 percent after the skincare and home fragrance company told investors at its annual general meeting in Auckland it expects to achieve revenue of $100 million or above in the full year to the end of March 2017.

The company achieved revenues of $83.1 million in its full year 2016, suggesting year on year revenue growth of between 20 to 32 percent for 2017.

Trilogy's brands include Ecoya candles, Trilogy and Goodness. It also owns CS & Co, the country's largest independent importer and distributor of fragrances and toiletries, which it bought in August 2015.

Earnings before interest, taxation, amortisation and depreciation are expected to be $19 million to $21 million, an increase of between 17 to 29 percent. That compares to $16.3 million in the 2016 full year.

If Trilogy International achieves $100 million in revenue it would have almost tripled sales in just two years, mainly through the CS & Co acquisition. CS & Co delivered $28.6 million in revenue in the seven and a half months it contributed to Trilogy's FY2016.

Chairman Geoff Ross also confirmed that an application to list on the ASX through an ASX foreign exempt listing had been submitted, which subject to approval, will see Trilogy International listed on the ASX by the end of October.

(BusinessDesk)

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