Trilogy International, the skincare products and scented candle maker, says annual profit will more than treble with improved earnings at its Australian unit and as its Ecoya candle division makes money for the first time.
The Auckland-based company forecasts net profit to rise to more than $4 million in the 12 months ended March 31 from $1.26 million a year earlier, it said in a statement. Annual revenue is expected to rise more than 18 percent, topping $35 million.
"The financial year to date had been underpinned by improved performance from Trilogy in Australia due to the appointment of new distributor McPherson's Consumer Products together with continuing growth and profitability from the Ecoya brand," chief executive Stephen Sinclair said. "The Ecoya brand reached profitability for the first time in the first six months of this financial year and this profitability has continued to grow during the second six month period, including the Christmas gifting period."
Trilogy had already beaten expectations for first-half earnings when it reported in November, with strong Australian sales of its Ecoya brand candles accounting for about 42 percent of revenue.
The company will report its audited result before the end of May.
The shares last traded at 82 cents, and have gained 14 percent this year.