ADR Update: Exceeding expectations
An investor day at Yowie’s new manufacturing facility on 25 April revealed a smooth relocation and the successful production of its first in-licensed product – Angry Bird character Yowies – to coincide with the upcoming Angry Birds movie in mid-May. Retail revenues rose another 29% on a sequential basis in the March quarter, to an estimated US$8m as the company filled reorders from existing customers and new customers including Walgreens. Volumes appear in line with our estimates so we are maintaining our top-line expectations for now. We will revisit our forecasts after the FY16 results in September when more information is available on the reduction of patent royalty fees resulting from the new contract manufacturer, as well as any additional cost savings.Yowie Group is a global brand licensing company based in Australia. Co. specializes in the development of consumer products designed to promote learning, understanding and engagement with the natural world. Co. owns intellectual property rights to supply its chocolate confectionery product, a digital platform and its licensed consumer products.
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