KEY POINTS:
Juice and beverage maker Charlie's Group has reported a net profit after tax of $164,000 for the December half year.
That compares with a loss of $141,000 for the comparable period a year earlier, while gross sales grew by 80 per cent to $12.3 million.
The improved performance came as the company increased sales and outlets, while Charlie's orange juice gained acceptance on the Air New Zealand domestic service, and the Charlie's range in selected BP service stations.
The company said its fridge placements in this country were up 31 per cent, while in Australia the increase was 49 per cent.
Existing export markets continued to have strong growth, particularly Australia, where operating revenue was 16 per cent ahead of the same six months in 2005.
Several new products were in the final stages of development, and talks were being held about an export opportunity in Japan, Charlie's said.
It was also continuing to consider opportunities in the alcoholic beverage sector.
Capital expenditure of $900,000 this financial year would include an upgrade of the blend hall and production line facilities and more internal warehousing.
The focus on growth, new products and market penetration, building value in the Charlie's and Phoenix brands needed capital and operating expenditure, and the reinvestment of earnings, the company said.
Accordingly no interim dividend was declared.
- NZPA
