Charlie's interim profit up 56% on successful Australian launch
Marc Ellis' juice company is slowly realising its dream of becoming a global brand.
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EARNINGS
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Charlie’s Group profit is up 56% year-on-year for the six months to December 31, 2010.
The Australasian beverage company has reported a net profit after tax of $1.1 million for the first six months of the 2011 financial year, up from $700,000.
The figures show a 56% increase on the same period a year ago and exclude a one-off profit from the sale of a building last year.
Total gross sales are up 29% from $16.8 million to $21.9 million, while net revenue is up 24% from $13.8 million to $17.1 million.
The company’s net revenue in New Zealand is up 3.2% to $10.5 million.
Its top selling product is now Charlie’s Old Fashioned Lemonade.
The directors point to a successful launch of the company’s products into Australian supermarket chain Coles for the solid result.
It now has 8.1% brand market share of the chilled juice category in Coles, while Charlie’s Old Fashioned Lemonade has entered the top 10 products in its category – competing with more than 160 products.
The company did pre- and post-launch awareness research in Melbourne around its Coles launch in November and December.
It showed brand recognition in Australia is up 45% from 3% in a short space of time.
Its Australian operations now represent 37% of total group net revenue, compared to 23% last year.
In New Zealand, Charlie’s market share is “growing”, say directors.
“Following a year of adjusting to the new economic climate, rationalising our product portfolio, introducing new innovation and the gross margin strategies we put in place that we have returned to growth in the New Zealand market and increased the profitability of this segment,” a statement said.
“The strategy is to continue with the plans we have put in place and keep growing the market with a close eye on costs to ensure its profitability.”
The company is now making further advances in South Korea and Singapore, with its first shipments to a new supermarket group called Park N Shop in Hong Kong.
The store took its first order of Phoenix and Charlie’s products in January.
CEO Stefan Lepionka and founder Marc Ellis are significant shareholders in the company, as is ACC.
Hazel Phillips
Wed, 23 Feb 2011
Wed, 23 Feb 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Charlie's interim profit up 56% on successful Australian launch
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