Thursday 9th February 2017
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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.
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