Not sweet for Yowie

CONFECTIONERY maker Yowie Group’s stocks have fallen to a three-year low after its sales missed full-year forecasts and were virtually flat in its key US market.

Yowie posted revenue growth of 51 per cent, down on its forecast of 55 per cent. Its US revenue was “essentially flat” at 1 per cent, or $US3.48 million ($4.39 million) in the three months to June.

Yowie said a rise in US convenience and grocery store sales was offset by a drop in sales in its largest retailer.

However, sales in Australia were brighter, at $952,735 in the fourth quarter.

“We remain confident regarding the prospects for the Yowie brand in both the US and in selective international markets,” said chief Bert Alfonso.

Yowie shares yesterday shed 16.7 per cent to 25¢.