Ecoya posts maiden annual operating profit   30 May 2012

Scented candle and skincare products company Ecoya said it made a maiden annual operating profit after sales jumped 58 percent.

Profit after interest costs but before tax and non-recurring accounting adjustments relating to the Trilogy earnout provisions was $204,000 in the year ended March 31 compared with a $3.6 million loss the previous year.

Ecoya paid $10 million up front for Trilogy and settled the earn-out provisions at the end of March by paying of $4.6 million in cash and issuing 4.6 million new shares to Trilogy's former owners.

Including the impact of the payout, Ecoya reported a $218,000 net loss for the year, down from the previous year's $4 million loss.

Annual sales rose to $22.6 million from $14.3 million the previous year which had included seven months of the Trilogy business' sales. In April, Ecoya raised its revenue forecast for the year from $20 million to $22 million.

“We are pleased with this result,” said executive chairman Geoff Ross. “Our plan is to continue investing in our brands, expanding our retail and distribution footprint and driving strong sales growth whilst remaining close to neutral from a profitability perspective,” Ross said.

Despite the operating profit, Ecoya was cash-flow negative to the tune of $320,000 for the year although that was a big improvement on the previous year's $6.7 million cash burn.

The company had $1.9 million in cash left at March 31.

Ecoya shares last traded on May 23 at $1.10, down from the recent record of $1.20 on May 4. The shares were floated at $1 each in May 2010 and sank as low as 65 cents at the end of 2010 before slowing rising again.

(BusinessDesk)

Add a comment

Bookmark and Share

News

Predator Free NZ 2050 to be a massive team effort

25 Jul 2016 Environment
New Zealand Government Hon Steven Joyce Minister of Science and Innovation Hon Nathan Guy Minister for Primary Industries Hon Ma... more

Minister clarifies China trade issue

25 Jul 2016 News
New Zealand Government Hon Todd McClayMinister of Trade 25 July 2016   Minister clarifies China trade issue Trade Minister Todd... more

Business

PM censures Trade Minister for 'head of a pin' answers

25 Jul 2016 Business News By Pattrick Smellie
Article - BusinessDesk Monday 25 July 2016 05:13 PM PM censures Trade Minister for 'head of a pin' answers on China trade ... more

Consultation for FMA, XRB, Companies Office funding

25 Jul 2016 Business News
New Zealand Government   Hon Paul Goldsmith Minister of Commerce and Consumer Affairs 25 July 2016 Consultation for FMA... more

Living

Young New Zealanders Making Films For Good

18 Jul 2016 Lifestyle
The Outlook for Someday Young New Zealanders Making Films For Good What does sustainability mean to you? Since 2007 The Outlook for... more

Review: NZ's Pitch Black - live in London

8 Jul 2016 Entertainment By Charlotte Everett
20 years after their debut at The Gathering, Pitch Black have satiated a packed venue of fans at London’s Oslo, in... more

Property

House prices to peak next year on new supply

25 Jul 2016 Property By Paul McBeth
Article - BusinessDesk Monday 25 July 2016 House prices to peak next year on new supply, lower migration: Infometrics July 25... more

All five leading retail banks require 40% deposit

21 Jul 2016 Property By Fiona Rotherham
Article - BusinessDesk Thursday 21 July 2016 04:55 PM UDATE: All five leading retail banks require 40% deposit from property ... more

Migration

Kiwis could be affected by tighter UK rules

30 Mar 2016 Migration By Audrey Young
British High Commissioner Jonathan Sinclair is defending changes to skilled migrant rules for Britain but suggests they won't affect... more

Immigrants' attitudes to corruption worries SFO

17 Feb 2016 Migration By Sophie Boot
Feb. 17 (BusinessDesk) - New Zealand's record inbound migration has undermined the country's squeaky-clean reputation because of an... more

Travel

NZ guest nights fell in May

12 Jul 2016 Travel & Tourism By Tina Morrison
Article - BusinessDesk NZ guest nights fell in May, snapping 25 consecutive monthly gains July 12 (BusinessDesk) - New Zealand guest... more

China's Tianjin Airlines eyes Auckland service

11 Jul 2016 Travel & Tourism
Article - BusinessDesk Monday 11 July 2016 03:36 PM China's Tianjin Airlines eyes Auckland service By Edwin Mitson July 11... more

Sport

Core group of All Blacks Sevens players re-sign with New Zealand Rugby

25 Jul 2016 Rugby
The core of this year’s All Blacks Sevens squad headed by veterans DJ Forbes and Tim Mikkelson will anchor the side through the... more

Emirates Team New Zealand appoints Southern Spars to build 2017 America's Cup boat

25 Jul 2016 Sailing
Southern Spars today announced it has been appointed to build Emirates Team New Zealand’s boat for the 35th America’s... more

Columns

Gordon Campbell on Tony Blair and the Chilcot Report

7 Jul 2016 Opinion
Column - Gordon Campbell Gordon Campbell on Tony Blair and the Chilcot Report | werewolf more

Gordon Campbell on our refugee response, and a TPP rewrite

14 Jun 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on our paltry refugee response and a brazen US rewrite of the TPP First published at... more

Kiwi Success

New Supreme Court and Court of Appeal appointments

13 Jul 2016 Appointments
New Zealand Government Hon Christopher FinlaysonAttorney-General 13 July 2016 New Supreme Court and Court of Appeal ... more

Awards champion public service excellence

7 Jul 2016 People
New Zealand Government   Hon Paula Bennett Minister of State Services 7 July 2016 Awards champion public service... more

Recruitment

Fletcher chases 100 ex-pat Brits

7 Jul 2016 Recruitment By Paul McBeth
Article - BusinessDesk Fletcher chases 100 ex-pat Brits as construction sector faces capacity constraints July 7 (BusinessDesk) -... more

Zero-hour contracts gone, PPL extended

10 Mar 2016 Recruitment
New Zealand Government Hon Michael Woodhouse Minister for Workplace Relations and Safety 10 March 2016 Zero-hour contracts gone, PPL... more

s