Charlie's sales up 48% in March quarter
The beverage company credits its success with Australian supermarket chain Coles for much of the sales increase.
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Charlie's Group (NZX: CHA) has achieved gross sales of $15.3 million for the quarter ending March 31, up $4.9 million (48%) from the same period a year ago.
This translates into gross sales of $37.2 million for the nine months ending March 31, up $9.9 million or 36% compare to the same period last year.
As a result of this significant increase in gross sales, net revenues were $11.6 million for the quarter, rising 22% or $2.1 million from the same period a year ago.
For the nine months to 31 March 2011 they were $28.6 million, up $6.6 million or 30% compared to the same period a year ago.
Charlie's Group chief executive Stefan Lepionka said, “These latest trading results are a reflection of the rapid growth we are currently experiencing in Australia, particularly in the grocery channel and show a reflection of the significant step change the business has undergone due to gaining key listings in Coles a major supermarket chain.
“At the end of March our market share in the chilled juice and beverage category within Coles had reached 11%.”
As well as the significant growth in the Australian grocery market, gross sales for the nine month period have grown by 28% in Australian HORECA (Hotels, Restaurants and Cafes), 10% in Export and New Zealand continues to remain stable and strong.
Charlie’s is forecasting gross sales of between $48.0 and $50.0 million for the full year ending 30 June 2011, up 40% to 46% on the 2010 full-year result of $34.3m .
The company also predicts net revenue of between $37.0 and $39.0 million (up 17% to 23%) ebitda of between $4.5 and $5.0 million (up 32% to 46%) net profit after tax (NPAT) of between $2.2 and 2.5 million (up 71% to 94%).
This represents an ebitda to net revenue return of between 12% and 13% (2010: 11%) and an NPAT to net revenue return of about 6% (2010: 4%).
Niko Kloeten
Tue, 12 Apr 2011
Tue, 12 Apr 2011
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Charlie's sales up 48% in March quarter
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