KEY POINTS:
Beverage maker Charlie's Group has reported a record annual net profit after tax (Npat) of $33,000, as sales increased by more than half.
The result for the year to June 30 compares to a loss of $161,000 in the previous 12 months, with that figure having been adjusted from a reporting period that was 15 months long due to a change in balance date.
Gross sales were up 55.9 per cent from the adjusted 12 month period, to $26.8 million, Charlie's said today.
Those sales included a full year of activity from juice company Phoenix Organics which Charlie's bought for $10 million in December 2005.
No final dividend was being recommended, in keeping with the company's "reinvestment for growth" strategy.
Chairman Ted van Arkel said comp any directors had made several important decisions in 2006/07, aimed at enhancing group performance and laying a platform for growth in the current year.
Critical to the growth strategy had been increased investment and focus on marketing, Mr van Arkel said.
The appointment of a new marketing manager last November had led to greater structure and expansion of the marketing team from one to four people.
Charlie's supermarket chilled juice sales had grown 32.8 per cent, compared to 5.6 per cent for the market. Ambient temperature supermarket sales revenue was up 25 per cent, excluding deletions, compared to market growth of 3.8 per cent.
In its route delivery business, operating revenue was up 17 per cent from the previous year driven by increased distribution across the group's product range.
Revenue from Charlie's export business increased to $2.7 million from $2.25 million in the previous 12 months.
For the group as a whole, earnings before interest, tax, depreciation and amortisation (ebitda) were up 163 per cent to $921,000. Total assets were up 2.1 per cent on the previous year end to $17m.
Mr van Arkel said the company's strategy included the identification of suitable companies to buy.
Chief executive Stefan Lepionka said the group had made significant investment in the past year in all areas to support and promote the Charlie's and Phoenix Organics brands.
It had launched new products and increased staff numbers from 81 people to 100 people.
That was entirely funded out of operating cash flow.
Charlie's shares were unchanged in mid-morning trade today at 18.5c, having ranged between 25c and 9c in the past year.
- NZPA
