Yowie achieves 23% higher global net sales in Q2 FY18
Yowie Group LTD (ASX: YOW, OTC ADR: YWRPY) (the “group” or “Yowie”) advises that for the quarter ending 31 December 2017, the group has delivered net sales growth of 23% versus the previous corresponding period (pcp).
Q2 Highlights
Global net sales up 23% versus pcp.
Accelerating increase in US distribution – more than 15,000 additional outlets in Q3/4.
Social media for Series 3 US launch exceeded expectations – 119m on line impressions vs 95m target.
Gross margins over 50% and strong closing cash balance $22.7m.
Focus on efficiency, manufacturing costs, packaging and supply chain issues follow recent stock
adjustment and revised growth outlook (as previously announced to ASX).
FY18 Sales guidance affirmed (+17% vs pcp) with focus on accelerating growth in existing markets,
careful expansion into new markets and a more competitive proposition for distributors and retailers.
*Note: All figures are unaudited and quoted in USD unless otherwise specifically stated. Results and FY18 net sales guidance exclude the $1.95m stock adjustment claim as announced to ASX on 12 January 2018.
YOW Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held