Trilogy International has bought a 25 percent stake in a Chilean rosehip producer alongside reporting annual profit more than double that of the last financial year.
The investment totalled US$8million in cash and shares and opened up a secure line of supply for oil used in its skincare products. While the deal is set to add to earnings, it will not generate a dividend, with surplus cash reinvested back into the business.
Trilogy and Goodness natural products were the biggest contributers to earnings, with revenue climbing 112 percent to $34.5million, while the Ecoya home fragrance increasing earnings 99 percent to $2.5million.
The board declared a final dividend of 5.45 cents per share, payable on June 25 with a June 13 record date, up from 3.6 cents in 2015.