12 Apr 2011

Double profit expected by drinks maker

3:46 pm on 12 April 2011

Drinks maker Charlie's may double its full year profit, saying strong growth at grocery stores in Australia has boosted sales.

The listed company had sales of $37.2 million in the nine months to March, 36% more than the same period a year earlier.

Sales in the third quarter rose by almost half to $15.3 million.

Chief executive Stefan Lepionka says the results reflect rapid growth in Australia, particularly in grocery stores.

Its products are now stocked in Coles and Woolworths stores and Mr Lepionka says its market share has grown to 11% within Coles stores.

The company expects to make a profit of between $2.2 million to $2.5 million in the year to the end of June, compared with $1.3 million in the previous year.