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Charlie's to post net loss on Australia disruptions

Tuesday 1st July 2008

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Charlie's Group, the juice maker, said it will post a full-year net loss because of disruptions to production in Australia.

"Charlie's Group will produce a positive EBITDA result for FY08, but will not exceed last year's EBITDA result as previously hoped, and a small loss after tax is now expected," chief executive Stefan Lepionka said in a statement. He didn't give details.

The company began production at a new Australian plant in April though the transition from using third-party contract packers led to glitches during a record summer sales season, the company said.

Sales in the year ended June 30 rose 24% to a record NZ$33 million, the company said. The Renmark, South Australia-based plant, acquired last year, tripled Charlie's production capacity, it said on April 15.

By Jonathan Underhill

  General Finance Advertising    

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