Charlie's aims to turn around negative cashflow

Juice and beverage maker Charlie's Group hopes to turn around a negative cashflow situation and produce a better full-year result than last year.

The company posted a net after-tax loss of $534,000 for the six months to December, compared with a net profit of $395,000 for the same period the year before, under new accounting standards.

Cashflow was negative after paying the bulk of a $3 million marketing campaign and set-up costs for its Australian production plant, which comes online in April. Revenue jumped 29 per cent in the six months to December to $15.17 million. There would be no dividend.