Charlies reduces net loss

Juice and beverage maker Charlies has reported a net after-tax loss of $163,000 for the 15-month period to June.

The result was an improvement on the previous period, a loss of $516,000 for the year to March 2005.

The group said the results were in line with previous guidance.

Despite the loss, revenue increased by 106 per cent to $18.5 million, compared with $9 million for the previous 12 months.

Charlies CEO Stefan Lepionka said the bottom line was hit by growth expenses, marketing and the costs of integrating its new acquisition, Phoenix Organics.