AUS: Craft beer boom buoys Little World
Niche Australian brewer Little World Beverages has today (22 February) posted a set of healthy first-half results.
The company, in which Trans-Tasman drinks group Lion Nathan owns a 34% stake, said operating profit jumped 36.2% to A$1.9m (US$1.5m) during the six months to 31 December. Revenues were up by an almost identical amount, rising 36.1% to A$13.9m.
Little World Beverages said its first-half figures included a write-off of almost A$187,000 in costs related to the due diligence it carried out on a mooted plan to build a brewery near Perth. The brewer decided not to go ahead with that plan and opted to build on a site close to its existing Fremantle facility.
"The company continues to focus on the development of a unique premium positioning in the beer market that can provide a sustainable economic platform for shareholders," Little World Beverages said.
Lion Nathan and Coca-Cola Amatil appear to be the front runners should Australian brewer J Boag & Son go up for sale, according to local reports....
Kirin Holdings, the umbrella company to Kirin Brewery, has posted a slide in net profit for the first half of 2007....
Lion Nathan today reconfirmed its full year guidance for net profit on the back of a small increase in beer sale volumes for the first nine months....
The CEO of niche Australian brewer Little World Beverages has resigned from the business....
Bibendum has added two new single-estate English wines that use the company's north London home as a namesake....
Kirin Brewery Co. aims to keep its 46.1% stake in the Australian brewer Lion Nathan, according to The Australian Financial Review....
Kirin Holdings, the umbrella company to Kirin brewery, has upgraded its forecasts for the first half of this year....
Bibendum has appointed an addition to its board of directors....
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