As it marks five years as a listed company, beverage maker Charlie's Group Ltd is signalling that it may pay a maiden dividend next year.
Chairman Ted van Arkel told shareholders at the annual meeting today that gross sales for the six months to December 31 would be around $21
million, up 24 per cent on last year.
The company reported record earnings before interest, tax, depreciation and amortisation (ebitda) of $3.4m in the year to June 30, which was a turn around from a $900,000 loss a year earlier.
It said today that its expects ebitda in the six months to December 31 to rise 14 per cent to $2m.
The company associated with sports celebrity Marc Ellis has expanded into Australia where it won a contract with Coles to stock old fashioned lemonade and a further 10 Charlie's products in 750 supermarkets in Australia.
"Australian sales are expected to grow by around 136 per cent for the same period as last year which will raise the mix of Australian gross sales from 22 per cent to 38 per cent for this period," van Arkel said.
"Dependent on the full-year results and cash flow requirements for future growth, the board will consider declaring a maiden dividend in 2011," he said.
He said that as Charlie's marked five years of listing on NZX it had demonstrated that it could grow sustainably.
"I think of 2010 as being the year when the investments we've made on your behalf have really started to pay off."
- NZPA
