Novelty chocolate company Yowie Group has seen a 44 per cent rise in its Australian sales over the past financial year.
In a fourth quarter update, the company said its net sales in Australia would be $2.7 million for the 2018 financial year, an increase of 44 per cent, as the company benefited from a full year in the market and the ranging of Yowie in Woolworths.
Thanks the the entry of a global competitor, however, the company's North American net sales decreased four per cent over the year to $16.8m.
On the upside, its fourth quarter global net sales increased about 18 per cent to $5m compared to the prior corresponding period, the company said, with its US sales increasing 38 per cent.
Yowie also said it had achieved its annual sales guidance, and its US distribution and market share was continuing to increase.
Further expansion for Yowie is also planned for Australia, New Zealand and throughout Asia, where the Yowie brand is known and brand equity remains strong, despite not having been active in the market for around 10 years.
CEO Mark Schuessler said: “We are pleased to finish the year with strong Q4 results and achieve annual revenue guidance. We are making good progress in broadening our distribution network and growing market share. We enter F19 with momentum and confidence.”
The company will release its full year results on 24 August.
