Sharechat Logo

Brewer Moa eyes possible purchases, must deliver profits

Wednesday 14th September 2016

Text too small?

Moa Group, the loss-making Marlborough-based brewer whose share price has tripled in the past year, has told investors it is assessing the possibility of buying other businesses, but that they would have to add to earnings. 

The brewer expects revenues of between $9 to $11 million in the 2017 financial year, excluding its recent deal to distribute Parrotdog. Revenue in the 2016 financial year was $8.2 million. 

The company announced a $4 million capital raising last week alongside the agreement to distribute the Wellington-based craft brewer's products with its own from October. The deal is expected to boost Moa's gross margin from the second half of 2017.  

In an update to investors today, the company said the business was tracking to plan, with gross margins improving, costs falling and that it was continuing to move towards breakeven. 

Moa listed in 2012 at $1.25, but the shares fell well below that, trading at 30 cents on Sept. 15 last year. After a gradual rise to 54 cents in June 2016, shares rocketed to 92 cents a month later, prompting a please explain note from the NZX. Moa told the stock-exchange operator it continued to meet its continuous disclosure obligations.   

Shares in Moa fell 2.1 percent to 93 cents.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report