11 Apr 2014

Trilogy announces profit upgrade

6:59 am on 11 April 2014

A profit upgrade gave Trilogy shares a shot in the arm after the company announced it expects to make more than $1 million in net profit for the 12 months that ended in March.

The stock, which has halved in value over the last year, gained more than 15 percent to close at 53 cents.

The natural beauty products and Ecoya candle maker is expecting a 22 percent increase in profit from $29.7 million in revenue.

Chief executive Stephen Sinclair said Trilogy is now firmly on the growth path as it continues to expand into the United States, Britain and Asia.

He said the company recently signed a deal with the Manning Pharmacy group and will be in 200 pharmacies in Hong Kong.

Mr Sinclair said Trilogy has also signed a deal with a chain of whole food stores in the mid-west of the United States, and recently changed distributors in the United Kingdom and gained some good traction with some of high street stores.

He said the Ecoya brand is still not profitable yet, but he's confident it will be by the end of the current financial year.