Charlie’s’ annual net profit of NZ$2.5m compares with a NZ$1.8m net loss the previous year. Its NZ$1.3m net profit from core operations, excluding the NZ$1.2m profit from the sale of its Henderson factory, compares with its July forecast of between NZ$1m and NZ$1.2m. Gross sales were up 1.7% to NZ$34.3m.
Charlie’s latest profit is only the second in its history and far more substantial than the NZ$33,000 net profit it reported for the year ended June 2007. Charlie’s listed in July 2005 through the shell of former unsuccessful mining prospector cum dotcom wreck, Spectrum Resources.
Chairman Ted van Arkel said Charlie’s Australian subsidiary contributed NZ$1.8m or more than 50% of total earnings before interest, tax, depreciation and amortisation of NZ$3.4m, adding New Zealand was a difficult market.
“We’re extremely pleased with the progress we’ve made over the last year in continuing to build Charlie’s as a profitable growth company,” said chief executive Stefan Lepionka. “Our vision for the group is to be world-famous for our drinks, and our results in Australia and other international markets in the past year is evidence that we’re on our way to achieving this.”
Source: BusinessDesk
© FoodBev Media Ltd 2024