10 Aug 2010

Ecoya predicts revenue growth

8:57 am on 10 August 2010

The luxury scented candle and fragrance firm, Ecoya, expects to double its revenue this year.

The company lost $2.3 million in the year to March, 4% more than it forecast in its initial public offering in May.

At its first annual meeting in Auckland on Monday, the company told invesors that sales more than doubled in the four months to July compared with the same period last year.

The company is forecasting revenue of $8 million in the 2011 financial year - more than double the $3.9 million it generated last year.

Ecoya says the Australian market remains its top priority, but markets in New Zealand, the US, and Shangai also have room to grow.