Charlie's earnings squeezed

Beverage company Charlie's Group has warned of a small loss for the year to June.

The company, which owns Charlie's Juice and Phoenix Organics, told the stock exchange it also expected to report better than break-even earnings before interest, tax, depreciation and amortisation (ebitda).

The group will report its consolidated results in mid-August, which will include 15 months of Charlie's Trading Company, seven months of Phoenix and nearly 12 months of Charlie's Group, previously Spectrum Resources, through which Charlie's was listed.

The company said it remained "on track" to finish merging its activities by early next year. Charlie's shares rose 0.2c or 1.89 per cent to 10.8c in late afternoon trading, having traded between 18.9c and 9.5c during the year.

In February Charlie's Group raised $2.5 million in a share placement, most of which was used as a final instalment to buy Phoenix.

- NZPA

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