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Ecoya says sales more than double year ago levels

Home fragrance company Ecoya's year-to-date sales are more than double those of the same period a year ago, executive chairman Geoff Ross told the company's annual meeting today."Ecoya is a growth company and our expectation is that this type of grow

NZPA Mon, 09 Aug 2010

Home fragrance company Ecoya's year-to-date sales are more than double those of the same period a year ago, executive chairman Geoff Ross told the company's annual meeting today.

"Ecoya is a growth company and our expectation is that this type of growth will continue," Mr Ross said.

Revenue and losses in the period from April 1 to July 31 were tracking in line with forecasts prepared in the prospectus for the company, which listed on the NZX in May and is part owned by the founders of vodka company 42 Below.

For the year to March 31 the company reported a loss of $2.35 million on revenue of $3.9m.

Ecoya managing director Craig Schweighoffer said the company had recently fully revamped its packaging, and now had its first body and bath products with soaps, body wash and body lotion.

For now the priority market was Australia, where it made most of its sales, while this country was also part of its plan for market growth this year and next, Mr Schweighoffer said.

The United States was a new market for the company, which was now in some stores in Los Angeles, while Ecoya also had a distribution partner in Shanghai, China, and a presence in a small number of high end hotels and spas.

A move to a larger facility would be finished next month, with another candle-making line installed by January.

Ecoya shares, which debuted at the issue price of $1, last traded on Friday at 80c.


This article has been corrected to clarify that Craig Schweighoffer did not found Ecoya. Kurt Schweighoffer and Shane McGrath were its co-founders in 2003.

NZPA Mon, 09 Aug 2010
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Ecoya says sales more than double year ago levels
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