Sharechat Logo

Moa to be distribution partner for Lewis Road Creamery's Chocolate Cream Liqueur, affirms guidance

Thursday 9th February 2017

Text too small?

Moa Group, the unprofitable Marlborough-based brewer, is to partner with Lewis Road Creamery as the dairy products marketer enters the liquor market with its Chocolate Cream Liqueur.

The sales and distribution agreement is the second such partnership after it announced last September a distribution deal with Wellington-based ParrotDog Brewing. At its 2016 annual meeting, Moa said it would consider distributing "a small set of complementary brands" to "build scale and breadth of offer". As well as distribution deals it would consider acquisitions, it said.

In September, the company forecast 2017 revenue of $9.5 million to $11 million, excluding ParrotDog and predicted a wider gross margin, and "solid earnings improvements." Today it affirmed the revenue guidance and said it would provide a further update in April. Moa has posted annual losses the past three years, although the loss in 2016 of about $3 million was down from 2014's $5.8 million loss.

Moa shares last traded at 70 cents and have gained 24 percent in the past 12 months, outpacing a 17 percent gain in the S&P/NZX 50 Index.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

Fletcher nabs KiwiRail CEO Peter Reidy to head construction business
NZ dollar slips ahead of inflation data tomorrow that may show tepid price pressures
July 16th Morning Report
NZ dollar heading for 0.4% weekly decline after swinging more than 1 US cent on trade tensions
MARKET CLOSE: NZ shares rise as Infratil and Z gain; Tourism Holdings, Fisher & Paykel drop
Ross Asset liquidators claw back a further $3.1M from investors, launch more lawsuits
Wells resigns from CBL board as FMA takes early view it may have broken disclosure, reporting rules
Hawkins sale to Downer under scrutiny by liquidator untangling $453M web of related party loans
NZ construction inflation to slow as escalating costs damp demand
NZ manufacturing activity slows to the weakest measure in 6 months in June

IRG See IRG research reports