Trilogy share price rally triggers 'please explain' notice
Shares in skin care and home fragrance company Trilogy have rallied as much as 25 per cent since Friday, prompting a "please explain" from the stock market operator.
The NZX issued a price inquiry on Trilogy's stock on Monday, asking the company to explain the sudden rise in its market price. Trilogy shares traded as high as $1.25 on Tuesday before closing at $1.04, up 12 cents since Wednesday.
Trilogy International is the parent company for two popular brands: Trilogy Natural Products, which creates natural skin care products; and Ecoya, which manufactures luxury home fragrance products.
In response to the NZX notice, Trilogy chief executive Stephen Sinclair said the company continued to comply with its continuous disclosure obligations.
Trilogy provided a guidance update to the market in March, in which it expected pre-tax annual profit ending March 31 to triple to more than $4 million, up from $1.26m in the previous year.
Income is expected to be up 18 per cent, at more than $35m.
The investment market was reacting to that guidance, Sinclair said.
"The market's gaining confidence from where that results going to come out at.
"Other than that there's no new news out there."
Trilogy shares were given a big boost in March by reports that the pregnant Kate Middleton was using its rosehip oil as part of her beauty regime.
"That all helps. If you get lots of good bits of news out to the market together and people join the dots sure that's going to help."
Over the past year its share price has increased nearly 50 cents, or 75 per cent.