Charlie's sales receive Australian boost

Tuesday 25th January 2011

Strong sales in Australia have boosted sales for juice maker Charlie's Group, which recently extended its deal with supermarket giant Coles.

Total sales grew by 29% for the six months ended December 31 to $21.9 million, beating forecasts and well up on a year earlier, the company said.

The company confirmed earlier guidance of first-half net profit of $1 million, compared with $1.9 million a year earlier which included a property sale. Earnings before interest, tax, depreciation and amortisation are forecast at $2 million, above $1.75 million the previous year.

"We are extremely pleased with our trading performance, particularly in Australia where the majority of this growth has come from," Charlies's chief executive Stefan Lepionka said.

Sales in New Zealand had improved during the period, with a 3.6% rise in gross sales. In the last quarter, sales rose 9.1%.

Charlie's recently began supplying a number of its drinks to 750 Coles supermarket stores in Australia, and earlier this month said that deal had been extended to include a wider range of drinks.

Full half-year results will be released on February 23.

Shares in Charlie's last traded unchanged at 20c.

NZPA

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