18 Nov 2009

Charlies looks to profit again

10:35 am on 18 November 2009

Beverage operator Charlie's Group says it hopes to return to profitability in the current financial year.

The company made a $1.8 million loss in the year to June, but told investors at its annual general meeting in Auckland things are looking better.

The company says trading the first four months of the financial year are traditionally quieter because of the colder weather.

But it says sales results so far are similar to last year, but with reduced costs.

Chief executive Stefan Lepionka is confident of achieving financial targets over summer and says the company aims to make a profit during the year.

He says Australia will continue to be an extremely important market for the company, as it has a larger population which traditionally drinks more juice.

The Charlies brand launched across the Tasman in October 2008, and now makes about half the amount of sales there as in New Zealand.

Mr Lepionka expects the Australian market to overtake the New Zealand market by 2011.