Trilogy declares first dividend as candle sales cast glow
Trilogy International, the skincare products and scented candle maker, announced its first dividend after annual profit more than tripled on Australian sales growth and the first earnings from its Ecoya candle brand.
Profit rose to $4.5 million in the year ended March 31, from $1.1 million a year earlier, the Auckland-based company said. Sales increased 23 per cent to $36.6 million.
The board declared a 3.66c per share dividend.
Chairman Geoff Ross said the ongoing dividend policy would be dependent on future growth and ac- quisition opportunities, but the board intended to keep the payout ratio between 45 per cent and 55 per cent of after-tax earnings.
The result beats Trilogy’s March forecasts, when it flagged profit would more than triple while sales would grow at least 18 per cent.
The company 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 per cent of revenue.
“Both brands performed strongly and profitably during the period, in particular in the New Zealand and Australian markets, with Ecoya mov-
In Australia, the new distribution agreement
for Trilogy with McPhersons Consumer
Products helped to deliver very good results in that market, plus the Ecoya brand grew
strongly. Stephen Sinclair Trilogy International chief executive
ing into profitability for the first time,” said chief executive Stephen Sinclair.
“In Australia, the new distribution agreement for Trilogy with McPhersons Consumer Products helped to deliver very good results in that market, plus the Ecoya brand grew strongly.”
Australian sales rose 38 per cent to $18 million — half of its overall revenue. New Zealand sales were up 15 per cent to $10.2 million. British sales rose 7.8 per cent to $2.4 million, US sales fell 6.2 per cent to $776,000, while the rest of the world sales increased 18 per cent to $3.6 million.
Trilogy shares closed up 7c yesterday at $1.