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Trilogy lifts stands by earnings forecast

NZ NewswireNZ Newswire 28/11/2016 Sophie Boot

<span style="font-size:13px;">Skincare and home fragrance company Trilogy International says it remains on track to post $100m in earnings for the current year.</span> © Getty Images Skincare and home fragrance company Trilogy International says it remains on track to post $100m in earnings for the current year. Trilogy International, the skincare and home fragrance company, lifted first-half profit 10 per cent and reiterated its earnings guidance for the full year.

Net profit rose to $3.5 million in the six months to the end of September from $3.2m a year earlier, the company said in a statement.

Revenue rose 63 per cent to $47.8m, while earnings before interest, tax, depreciation and amortisation (ebitda) gained more than a third to $7.2m.

Trilogy's brands include Ecoya, Trilogy and Goodness, and it owns CS & Co, the country's largest independent importer and distributor of fragrances and toiletries, which it bought in August 2015.

The company affirmed its September guidance for 2017 revenue of $100 m-$110m, a gain of between 20 per cent and 32 per cent over 2016's $83m of sales, and ebitda of $19m-$21m.

If Trilogy International achieves $100min revenue it will have almost tripled sales in just two years, mainly through the CS & Co acquisition. CS & Co delivered $24min revenue in the first half.

Ecoya delivered nearly $9m in revenue, up 4.4 per cent from the first half of 2016 while its skincare brands Trilogy and Goodness posted $17.8m in revenue, up 14.6 per cent, though ebitda fell by $1m to $4.5m.

The bulk of Trilogy's sales still come from New Zealand, at $28.4m in the first half, while $13.5m in revenue came from Australia.

In May, Trilogy acquired 25 per cent of Chilean rosehip producer Forestal Casino for $US8m in cash and shares, giving it certainty of supply for an oil used in skincare products. In the first half it gained $183,000 from its share of earnings.

The shares last traded at $3.66, up 1.4 per cent in early trading, and have gained 30 per cent this year. The board didn't declare an interim dividend.

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