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Trilogy asked to explain share price jump

NZN 18/05/2016 Edwin Mitson

Trilogy International, the skincare and home fragrance company, says it continues to comply with its market obligations after being asked to explain a 50 cent rise in its share price in four days of trading.

The value of shares in Trilogy has risen from a market low of $3.50 on May 13 to a high of $4.00 at 13:26 on May 18, an increase of 14.3 per cent. That sparked a letter from the NZX asking whether the company is continuing to comply with the rules requiring the disclosure of information material to the share price.

In a response, Trilogy's Chief Financial Officer Lindsay Render said that the company "continues to comply with its continuous disclosure obligations".

Trilogy bought the New Zealand cosmetics and fragrance distribution business, CS Company, last August.

In March it said that sales for the full-year to the end of March were expected to exceed $83 million, with profit before tax above $13 million, ahead of analysts expectations.

The company sells through the Trilogy, Ecoya and Goodness brands.

The shares have more than quadrupled in value since July 2015 when they traded at 91 cents. A short while ago they were trading at $3.95.

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