Shares in Yowie jumped after the Australian chocolate maker announced expanded distribution into the US.
A short time go, the shares were up 17.6% to $0.20.
Yowie has expanded to 1,250 Target stores after a 300 store trial and is now distributing to Albertson’s, Wakefern and Brookshire Bros on both the east and west coasts of the US.
Another 8,000 new stores will come on stream in the March 2018 quarter, from sales expansion into Circle K, Speedway, Travel Centers of America, Sunoco and AMPM.
Yowie’s Chief Operating Officer, Mark Schuessler, says the company believes Yowie has significant scope for further penetration and growth in the US.
“We see distribution growth potential extending beyond fiscal 2018,” he says.
Yowies are an ape-like mythical creature, similar in some ways to the the Yeti or Abominable Snowman, said to live in the Australian outback.
Yowie chocolates first launched in Australia in 1995, quickly becoming the number one selling single confectionery for Cadbury.
A copyright dispute saw the chocolate-covered toys fade away. However, the Yowie Group bought the rights to the brand in 2012 during the Kraft takeover of Cadbury.