KEY POINTS:
Charlies Group Ltd, the drinks company fronted by celebrity Marc Ellis, reported an interim loss after encountering problems with its information technology system.
The company said the $661,000 loss in the six months to December 31 was below expectations in a trading update to shareholders at the annual meeting in November.
Chairman Ted van Arkel said the errors encountered with information technology were disappointing and had been rectified with the assistance of PricewaterhouseCoopers and the company's information technology provider.
The loss was wider than the $524,000 loss reported in the same period last year.
The loss before interest, tax, depreciation and amortisation of $83,000 was less than the $377,000 loss last year and the company said it expects a loss at the ebitda level in the second half.
The falling New Zealand dollar increased the company's raw material costs.
Charlies is not paying a dividend and is focusing on managing its working capital through inventory control and debtor management.
The company said it continued to enjoy strong support from its banker ANZ, which has confirmed ongoing facilities.
- NZPA
