Charlie's Group Ltd has turned to profit and reduced debt. The juice maker reported earnings before interest, tax, depreciation and amortisation (ebitda) of $3.4 million in the year to June 30 compared with a $900,000 loss in the same period last year.
The Australian subsidiary contributed $1.8 million, or more than 50 per cent, of the ebitda.
"This trading result proves that we are no longer a New Zealand company with local brands but truly Australasian," said chief executive Stefan Lepionka.
Charlie's is not paying a dividend, saying it wants to continue to focus on growth opportunities.
It had record gross sales of $34.3 million in the year to June 30.
Group net profit after tax was $2.5 million, of which core trading was $1.3 million, after a $1.8 million loss in the previous year.
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Article Source: www.nzherald.co.nz
