Charlies juice to report loss of $1.8m to $1.95m

NZX-listed juice company Charlie's expects to post a net loss of $1.8 million to $1.95m in full year earnings.

In information released to the stock market, the company expected its ebitda (earnings before interest tax and depreciation) to be a loss of $950,000 to $1.05m.

The company made gross sales of $34m, a rise of about 2 per cent on last year.

Charlie's reported a 31 per cent increase in Australian sales, which now makes up 15 per cent of the company's total.

The company said losses were due to increased costs of materials and distribution.

"Charlie's has not escaped the substantial softening in consumer spending experienced by the retail market in New Zealand. However, while New Zealand sales have weakened we have continued to grow our Australian business, leading to a positive increase in overall sales for the year," chief executive Stefan Lepionka said.

The full audited results for the year to June 30 will be released at the end of August.

Shares in the company last traded for 10c, with a year high of 14c in August.

- NZPA