YOW 0.00% 2.5¢ yowie group ltd

Article in this mornings West Australian

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    Halt on chocolate group's shares

    Chocolate maker Yowie Group has put its shares in a trading halt, pending a trading update and revised revenue forecast.
    The halt will remain until January 3rd, or when an announcement is released to the market.
    As pf last month, the Perth-based group was forecasting net sales would increase to $30M in fiscal 2018 from $19.5M.
    Yowie made a $US7.3M [ $A9.2M ] loss in 2017 financial year due to weak sales in the United States.
    The company sells conservation-themed toys surrounded by a chocolate shell.
    It has been expanding its chocolate distribution beyond its core US market this year, moving into New Zealand in August and Canada in October.
    The chocolates returned to Australian shelves in February.
    Yowie's board has come under pressure from dissident shareholders. Founder and former managing director Phil Huson has teamed up with another minority shareholder in a bid to dump three of four directors including chief executive Bert Alfonso.
    Last month, the board survived a spill resolution after being given a 72 per cent second strike over executive pay.
    Shares in Yowie last traded at 21cents, down 68% this year.



    Good luck to all holders
    regards
    dave
    please excuse spelling mistakes
 
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