Trilogy International says it's meeting disclosure requirements after share slide
James Smalley noted the company's financial year ends March 31 and investors will be watching for any market updates ahead of its May reporting date
Hot Topic
Hawke’s Bay
Trilogy International, the skincare and home fragrance company, said it continues to comply with continuous disclosure rules in response to a query from the New Zealand stock exchange after its shares took a tumble.
In a letter to Trilogy, the NZX sought an explanation noting Trilogy's shares dropped to $2.48 on Feb. 9 from $3.39 on Jan. 9, a fall of 71 cents or 22 percent. On Friday the shares were up 1.6 percent at $2.55.
Lindsay Render, the chief financial officer for Trilogy, responded that it continues to meet its obligations.
Hamilton Hindin Greene director and client adviser James Smalley said the shareholder base is significantly bigger after its capital raising in mid-2016 and the share price may be getting pushed around by a few short-term investors opting to sell down their positions. Even after the capital raising "it's still a relatively thinly traded stock ... and a simple thing like that can affect the share price in the very short term," he said.
Smalley noted the company's financial year ends March 31 and investors will be watching for any market updates ahead of its May reporting date. "The proof in the pudding will always be in the result," he said. Trilogy's brands include Ecoya candles, Trilogy and Goodness. It also owns CS & Co, the country's largest independent importer and distributor of fragrances and toiletries, which it bought in August 2015.
In November, Trilogy confirmed earlier guidance for 2017 revenue of $100 million to $110 million, a gain of between 20 percent and 32 percent over 2016's $83 million of sales, and earnings before interest, tax, and depreciation of $19 million to $21 million, from $16.3 million in 2016.
(BusinessDesk)
Rebecca Howard
Fri, 10 Feb 2017
Fri, 10 Feb 2017
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Trilogy International says it's meeting disclosure requirements after share slide
64743