Beverage company Charlie's is about to finally sail into positive waters, with the announcement today that it expects a profit for the past six months after years of losses.The company said it expected ebitda for the six months ending December to ne in th
Beverage company Charlie’s is about to finally sail into positive waters, with the announcement today that it expects a profit for the past six months after years of losses.
The company said it expected ebitda for the six months ending December to ne in the range of $1.6 million to $1.7 million, after posting a negative ebitda of $83,000 the year before.
It is also expecting a net profit after tax of between $1.7 and $1.8 million when it reveals its half-yearly result next month.
While this figure has been inflated by the sale of the company’s Henderson property for $1.2 million, the positive result follows losses of $661,000 in 2008 and $524,000 in 2007.
It has been a swift turnaround for the company after it posted an bigger-than-expected annual loss of $1.8 million in July, a big drop on the previous year’s loss of $425,000 and a catalyst for sparking a capital structure review.
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
