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Charlie's third-quarter sales up 48%

Tuesday 12th April 2011

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Charlie's Group is reporting third quarter gross sales up 48% from a year earlier to $15.3 million, as it continues to benefit from the expansion into the Coles supermarket chain that was announced last October.

Gross sales for the nine months to March 31 were up 36% from a year earlier to $37.2 million, the beverage company said today.

For the full year it was forecasting gross sales of between $48 million and $50 million, an increase of 40% to 46% from the year before. Net revenue was expected to rise 17% to 23% to between $37 million and $39 million. Net profit was predicted to rise by between 71% and 94% to between $2.2 million and $2.5 million, when a gain on sale of a property last year was excluded.

In the latest quarter net revenues were up 22% from a year earlier to $11.6 million, and for the nine months they were up 30% to $28.6 million.

Charlie's chief executive Stefan Lepionka said the latest trading results reflected the company's rapid growth in Australia, with the significant step change for the business due to gaining key listings in the Coles chain.

At the end of March, Charlie's market share in the chilled juice and beverage category within Coles had reached 11%.

 

NZPA



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