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NZ juice manufacturer posts net loss despite increased Aussie sales

NZX-listed juice manufacturer, Charlie’s, expects to post a net loss of between $NZ1.8 million ($A1.46 million) and $NZ1.95 million ($A1.58 million) in full year earnings.

In information released to the stock market, the company expected its earnings before interest tax and depreciation to be a loss of between $NZ950,000 ($A769,791.75) and $NZ1.05 million ($A850,822).

However Charlie’s has made gross sales of $NZ34 million ($A27.55 million), a rise of about 2 per cent on last year.

The company has reported a 31 per cent increase in Australian sales which now makes up 15 per cent of Charlie’s total sales.

Losses were due to increased costs of materials and distribution according to the company.

Charlie’s chief executive Stefan Lepionka said the company had experienced softening consumer spending in their New Zealand market however Australian sales had continued to grow.

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