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Ecoya beats revenue guidance by 10%

Wednesday 4th April 2012

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Ecoya, the scented candle and skin-care products maker, has beaten its forecast annual sales by 10 percent.

Annual revenue was about $22 million, beating the $20 million forecast affirmed in its first-half report, according to a statement from the Auckland-based company.

It made no mention of annual profit, after breaking even on a pretax earnings basis in the first half, when it indicated it should be in the black by the end of the financial year. Ecoya’s financial statements are being audited at the moment, and it expects to publish the final result at the end of May.

Last week, the company completed its acquisition of the Trilogy skin-care business, making a final payment of $9.2 million in cash and scrip after meeting  earn-out targets.

The stock was unchanged at 95 cents today, and is up 1.1 percent this year.

BusinessDesk.co.nz

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