Yowie Group Ltd Lower than expected FY17 update

Lower than expected FY17 update: Yowie Group Ltd (ASX: YOW) stock plunged over 9.7% on February 10, 2017 due to their lower than estimated results update. The group expects their net sales to be in the range of 85% to 90% for the full year of 2017 against the previous guidance of doubling of sales growth. This is said to be post their 70% growth in the first half.  Moreover, the group is postponing their Yo Kai license launch to the first quarter of fiscal 2018 as product development and approval from Licensor are requiring more time to finalize. Yowie group also cut their fiscal 2017 target for additional markets as they are taking time while aligning distribution and retailer negotiations, despite the recent entry in the Australian market. On the other hand, the group’s manufacturing is on track post their second quarter disruption while plans are in place for their Pre-Easter marketing campaign wherein the group’s efforts of building brand awareness are ongoing. The group’s core US sales for their branded products are on track while they are constantly strengthening their brand presence in this market. Third quarter’s Easter driven orders are better than the last year levels, driven by their social media driven Pre-Easter marketing campaign.     

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