Confectionary maker Yowie Group expects to make its first annual profit in the current financial year.
The company made a loss of $US7.3 million ($A9.2 million) in the year to June 30, even though sales revenue rose 52 per cent due to growth in its key US market and a strong performance in Australia, where its products returned to shelves in February.
The company said the loss reflected investments made during the year to improve its performance, including spending $US1.1 million on machinery at a New York manufacturing plant.
Yowie also doubled its marketing spend to $US4.4 million and invested $US500,000 in the development of its intellectual property.
The company remains confident it can achieve sales growth of between 55 and 70 per cent in 2017/18.
"Our sole focus for 2018 is to deliver our maiden profit and to consolidate our position in our major markets," chief executive Bert Alfonso said in a statement.
The intellectual property rights for Yowies were bought by the current owners in 2012, with trial sales beginning in the US in 2014.
Yowie shares gained 1.5 cents, or 8.1 per cent, to 20 cents.
YOWIE RECORDS LOSS DESPITE REVENUE JUMP:
* Full-year loss of $US7.3 million, from $US7.4m loss
* Revenue up 52pct to $US19.9 million
* No full year dividend
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